Status
Latvia joined the euro area on 1 January 2014.
Fixed conversion rate
€1 = 0.702804 Latvian lat.
Adoption of the euro
The Latvian lat joined the Exchange Rate Mechanism (ERM II) on 2 May 2005, and observed a central rate of 0.702804 to the euro with standard fluctuation margins of ±15, but Latvia unilaterally maintained a 1% fluctuation band around the central rate. Latvia adopted the euro on 1 January 2014
Exchange of former national currency
The Latvijas Banka (Bank of Latvia) will continue to exchange lat notes and coins for an unlimited period.
Institutions
- Latvijas Banka (Bank of Latvia, also in English)
- Finanšu ministrija (Ministry of Finance of the Republic of Latvia, also in English)