Latvian rublis
| Latvian rublis | |
|---|---|
| Latvijas rublis (Latvian) | |
| ISO 4217 | |
| Code | LVR |
| Denominations | |
| Symbol | Lvr (before numerals) |
| Banknotes | 1, 2, 5, 10, 20, 50, 100, 200, 500 rublis |
| Coins | none |
| Demographics | |
| User(s) |
 Latvia
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| Issuance | |
| Central bank | Bank of Latvia |
| Website | www |
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This infobox shows the latest status before this currency was rendered obsolete.
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The rublis was the currency of Latvia from 1919 to 1922 and from 1992 to 1993.
After the proclamation of the Republic of Latvia in 1918, a large variety of different currencies were in circulation - ostrubles, ostmarks, German Papiermark, the so-called Tsar rubles, kopecks, the so-called Money of Duma and kerenkas, as well as promissory notes of several town municipalities.
On March 22, 1919, the Provisional Government of Latvia authorized the Minister of Finance to issue the first currency notes of the Republic of Latvia - Treasury notes. They were denominated in rublis (plural: rubļi or rubłı) and kapeikas (plural: kapeiku), with 1 rublis = 100 kapeiku. The Latvian rublis was worth 1½ Russian rubles. In the period from April 1919 to September 1922, currency notes were issued in denominations of 5, 10, 25 and 50 kapeiku and 1, 2, 5, 10, 25, 50, 100 and 500 rubłı. No coins were issued.
The first state currency notes were printed in 1919 by Andrievs Niedra's government, which was considered pro-German and illegal, and was overthrown in the same year. The legal government of Kārlis Ulmanis printed quite similar notes but with different signatures on them. This government recognized the previously printed banknotes as a legal payment means. The designer of these banknotes was Jūlijs Madernieks.
On August 3, 1922, the Cabinet of Ministers approved the "Regulations on Money" which introduced the lats as Latvia's national currency. The lats was equal to 50 rubļi. The rublis remained in circulation alongside the lats for a time.
Latvia regained independence in 1991 and in the first four months of 1992, was adversely affected by inflation of the Russian ruble. In addition, the outgoing cash payments surpassed incoming amounts by 122 million rubles (5.9%) in February, but in April by 686 million rubles (29.2%), thus causing a serious shortage of cash.
Since currency was issued by Russia, the Bank of Latvia was unable to improve cash circulation in the country. The situation completely depended on the possibility of receiving or buying cash and credit resources from the Bank of Russia. It was evident that a crisis could develop by the end of May, when the Bank of Latvia would not be able to execute even the most necessary payments.
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Wikipedia