Latvian lats

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).

First lats, 1922–1940

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

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.

Banknotes

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.

Latvia

Latvia (ⁱ/ˈlætviə/; Latvian: Latvija [ˈlatvija]), officially the Republic of Latvia (Latvian: Latvijas Republika), is a country in the Baltic region of Northern Europe, one of the three Baltic states. It is bordered by Estonia to the north, Lithuania to the south, Russia to the east, and Belarus to the southeast, as well as a maritime border to the west alongside Sweden. Latvia has 2,070,371 inhabitants and a territory of 64,589 km² (24,938 sq mi). The country has a temperate seasonal climate.

Latvia is a democratic parliamentary republic established in 1918. The capital city is Riga, the European Capital of Culture 2014. Latvian is the official language. Latvia is a unitary state, divided into 118 administrative divisions, of which 109 are municipalities and 9 are cities.

Latvians and Livs are the indigenous people of Latvia.Latvian is an Indo-European language; it and Lithuanian are the only two surviving Baltic languages. Despite foreign rule from the 13th to 20th centuries, the Latvian nation maintained its identity throughout the generations via the language and musical traditions. Latvia and Estonia share a long common history. As a consequence of the Soviet occupation, both countries are home to a large number of ethnic Russians (26.9% in Latvia and 25.5% in Estonia), some of whom are non-citizens. Latvia is historically predominantly Protestant Lutheran, except for the Latgale region in the southeast, which has historically been predominantly Roman Catholic.