Latvian Lats
| Latvian lats | |
|---|---|
| Latvijas lats (Latvian) | |
The standard version of the 1 lats coin bore a salmon
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| ISO 4217 | |
| Code | LVL |
| Denominations | |
| Subunit | |
| 1/100 | santīms |
| Plural | lati (nom. pl.) or latu (gen. pl.) |
| santīms | santīmi (nom. pl.) or santīmu (gen. pl.) |
| Symbol | Ls (before numerals) |
| santīms | s (after numerals) |
| Banknotes | |
| Freq. used | 5, 10, 20, 50, 100 latu |
| Rarely used | 500 latu |
| Coins | 1, 2, 5, 10, 20, 50 santīmu, 1, 2 lati |
| Demographics | |
| User(s) | None, previously: Latvia
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| Issuance | |
| Central bank | Bank of Latvia |
| Website | www |
| Valuation | |
| Inflation | -0.4% |
| Source | ECB, April 2013 |
| ERM | |
| Since | 2 May 2005 |
| Fixed rate since | 1 January 2005 |
| Replaced by €, cash | 1 January 2014 |
| € = | Ls 0.702804 (Irrevocable) |
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This infobox shows the latest status before this currency was rendered obsolete.
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The lats (plural: lati (2–9) latu (10 and more)), ISO 4217 currency code: LVL or 428) was the currency of Latvia until it was replaced by the euro on 1 January 2014. A two-week transition period during which the lats was in circulation alongside the euro ended on 14 January 2014. It is abbreviated as Ls and was subdivided into 100 santīmi (singular: santīms; from French centime).
The lats was first introduced in 1922, replacing the Latvian rublis at a rate of 1 lats = 50 rubļi. In 1940, Latvia was occupied by 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. The 1, 2 and 5 santīmu were in bronze, the 10, 20 and 50 santīmu were nickel, while coins 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 5, 10 and 20 latu.
The lats was reintroduced in 1992, replacing the Latvian rublis, which was used for a short period after Latvia regained its independence, at a rate of 1 lats = 200 rubļu.
Coins were issued in denominations of 1 santīms, 2 and 5 santīmi, 10, 20 and 50 santīmu, 1 lats and 2 lati. Besides standard coins in the list below and coins for collectors, there were a number of coins that were issued only once and were rarely found in circulation – three commemorative circulation coins in denominations of 2, 10 and 100 latu (the later two of which were, respectively, silver and gold), a 100 lats gold bullion coin, a standard issue 2 lats coin that was gradually taken out of circulation starting from 1999 due to safety issues and a series of limited design 1 lats coins that were issued twice a year from 2004 to 2013, and once in 2001 and 2003. The standard coins were designed by Gunārs Lūsis and Jānis Strupulis.
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