Lat

For common abbreviations, see latitude and latissimus dorsi muscle.

The lat (in Latvian: lats, plural lati, the ISO 4217 currency code LVL) is the official currency of Latvia. It is abbreviated as Ls. Each Latvian lat is composed of 100 santims (in Latvian: santīms, plural santīmi). Coins are issued in denominations of 1, 2, 5, 10, 20, and 50 santims, as well as 1, 2, and 100 lats. Notes are issued in denominations of 5, 10, 20, 50, 100, and 500 lats.

The Latvian lat was first introduced in 1922, replacing the Latvian ruble. In 1940 Latvia was occupied by the Soviet Union and lat was replaced by USSR ruble, then reintroducted after Latvian independence in 1993. Euro (eiro or eira in Latvian) is estimated to replace lat in year 2008.

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..

Exchange rate

• 1 lat = 100 santims
• 1 LVL is equal to (as of 3 March, 2005):

other updated currency rates: [1]

External links

• Latvian money Information from the Bank of Latvia