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Latvian lats Latvijas lats (Latvian)
The 5 lats coin, used before WWII, became a popular symbol of independence during the Soviet era. The coin was designed by Rihards Zariņš.
ISO 4217 Code	LVL
User(s)	Latvia
Inflation	6.3%
Source	The World Factbook, 2006 est.
ERM
Since	2 May 2005
Fixed rate since	1 January 2005
Replaced by €, cash	1 January 2008 tentative
€ =	Ls 0.702804
Band	pegged in practice, 15% de jure
Subunit
1/100	santīms
Symbol	Ls (before numerals)
santīms	s (after numerals)
Coins	1, 2, 5, 10, 20, 50 santīmu, 1, 2 lati
Banknotes	5, 10, 20, 50, 100, 500 latu
Central bank	Bank of Latvia
Website	www.bank.lv

For common abbreviations, see LAT (disambiguation)

The lats (plural: lati or latu, ISO 4217 currency code: LVL or 428) is the currency of Latvia. It is abbreviated as Ls. The lats is sub-divided into 100 santīmu (singular: santīms , plural also santīmi; from French centime).

Contents 1 First lats, 1922-1940 1.1 Coins 1.2 Banknotes 2 Second lats, 1993- 2.1 Coins 2.2 Banknotes 3 See also 4 External links

The lats was first introduced in 1922, replacing the Latvian rublis at a rate of 1 lats = 50 rubļi. In 1940, Latvia was incorporated into the USSR and the lats was replaced by the Soviet ruble at par.

Coins were issued in denominations of 1, 2, 5, 10, 20 and 50 santīmu, 1, 2 and 5 lati. Denominations of 1 lats and above were in silver.

The Latvian Bank issued notes from 1922 in denominations of 20, 25, 50, 100 and 500 latu. They also issued 10 latu notes which were 500 rubli notes overprinted with the new denomination. The government issued currency notes from 1925 in denominations of 10 and 20 latu.

The lats was reintroducted in 1993 after Latvia regained its independence, replacing the Latvian rublis at a rate of 1 lat = 200 rubļu.

The euro (eiro in Latvian) is expected to replace the lats in 2011. The currency entered the Exchange Rate Mechanism II on May 2, 2005, and must be maintained in a 15% band around the pivot value of 0.702804 LVL per Euro. In practice, the lats has been fixed at that rate since 1 January 2005. Before that, it was pegged to the SDR currency basket.

Coins are issued in denominations of 1 santīms, 2 santīmi, 5 santīmi, 10 santīmu, 20 santīmu, and 50 santīmu, as well as 1 lats and 2 lati. Also, there are commemorative coins in denominations of 2, 10, 20, 100 latu made from gold and silver.

• 5 lati: oak-tree
• 10 latu: River Daugava and oak-leaf
• 20 latu: Traditional house
• 50 latu: sailing-ship and oak-leaf
• 100 latu: Krišjānis Barons and oak-leaf
• 500 latu: Latvian folk-maid and oak-leaf

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other updated currency rates: [1]

• Latvian euro coins

• Latvian Money
• Coins of former Soviet republics

v • d • e Euro-related topics
Topics	Eurozone · Currencies related to the euro · European Monetary System · European Currency Unit · European Exchange Rate Mechanism · Economic and Monetary Union of the European Union · Stability and Growth Pact · Introduction of the euro · Euro coins · Euro banknotes · Euro sign · Linguistic issues concerning the euro
Coins by country – adopted	Austria · Belgium · Finland · France · Germany · Greece · Ireland · Italy · Luxembourg · Monaco · Netherlands · Portugal · San Marino · Slovenia · Spain · Vatican
Coins by country – future	Bulgaria · Cyprus · Czech Rep. · Estonia · Hungary · Latvia · Lithuania · Malta · Poland · Romania · Slovakia
Coins by country – other	Andorra · Denmark · Sweden ·  UK
Coins by denomination	€0.01 · €0.02 · €0.05 · €0.10 · €0.20 · €0.50 · €1 · €2 · €2 commemorative coins
Pre-euro currencies	Austrian Schilling · Belgian franc · Dutch gulden · Finnish mark · French franc · German Mark  · Greek drachma · Irish pound · Italian lira · Luxembourgish franc · Monegasque franc · Portuguese escudo · Sammarinese lira · Slovenian tolar · Spanish peseta · Vatican lira
ERM II currencies	Cypriot pound · Danish krone · Estonian kroon · Latvian lats · Lithuanian litas · Maltese lira · Slovak koruna
Other EU currencies	British pound · Bulgarian lev · Czech koruna · Gibraltar pound · Hungarian forint · Polish złoty · Romanian leu · Swedish krona
Note: Denmark and the UK currently opt to maintain their national currencies, the krone and the pound. Sweden has not made any further efforts towards its obligation to join (and withdraw the krona) after the failed referendum in 2003.

v • d • e Currencies of Europe
Eurozone	Euro
Northern	Danish krone · Faroese króna · Icelandic króna · Norwegian krone · Swedish krona
Baltic	Estonian kroon · Latvian lats · Lithuanian litas
Western	British pound · Guernsey pound · Jersey pound · Manx pound
Central	Czech koruna · Hungarian forint · Polish złoty · Slovak koruna · Swiss franc
Eastern	Belarusian ruble · Kazakhstani tenge · Russian ruble (Russia and Abkhazia and South Ossetia (unrecognized)) · Transnistrian ruble (unrecognized) · Ukrainian hryvnia
Southeastern	Albanian lek · Bosnia and Herzegovina convertible mark · Bulgarian lev · Croatian kuna · Macedonian denar · Moldovan leu · Romanian leu · Serbian dinar
Mediterranean	Cypriot pound · Gibraltar pound · Maltese lira · Turkish new lira (Turkey and Northern Cyprus (unrecognized))
Transcaucasia	Armenian dram (Armenia and Nagorno-Karabakh (unrecognized)) · Azerbaijani manat · Georgian lari