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Lat

From Biocrawler, the free encyclopedia.

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 incorporated into USSR and lat was replaced by USSR ruble, then reintroducted in 1993 after Latvia regained its independence. 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.

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Exchange rate

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

EUR	1.42287 (the fixed exchange rate since 30 December, 2004)
USD	1.75043
GBP	0.961696
RUB	49.6662
SEK	13.0075
LTL	4.91289
EEK	22.2632

other updated currency rates: [1] (http://www.bank.lv/eng/main/finfo/notvalkur/)

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External links

Latvian Money (http://www.bank.lv/eng/main/lvnaud/latnaud/)

Pre-euro currencies and non-euro currencies

Eurozone	Austrian schilling \| Belgian franc \| Dutch guilder \| Finnish markka \| French franc \| German mark \| Greek drachma \| Irish pound \| Italian lira \| Luxembourg franc \| Portuguese escudo \| San Marinese lira \| Spanish peseta \| Vatican lira
ERM	Cypriot pound \| Danish krone¹ \| Estonian kroon \| Latvian lat \| Lithuanian litas \| Maltese lira \| Slovenian tolar
Other EU	British pound¹ \| Czech koruna \| Hungarian forint \| Polish zloty \| Slovak koruna \| Swedish krona²