Latvia's currency is the lat (LVL).

There are many bureaux de change in Riga, especially in its old town. As they are located close to each other, it is a good idea to shop around for the best rate. It is also convenient to change money at one of the many banks situated throughout the city, both in the centre and in outlying neighbourhoods. 

Riga's largest shopping centres and department stores, including “Alfa”, “Galerija Centrs”, “Spice”, “Stockmann”, as well as restaurants, sports centres and other locations, cannot accept cash payments in euros. In this case, it is most convenient to pay with a credit card. 

1188’s currency converter www.1188.lv

A little bit of history

Before Latvia introduces the euro, here is a little on the history of the lat. The lat has been in circulation for 17 years now since the restoration of independence. On 5 March 1993, the first five-lat note was put into circulation. Afterwards 10, 20, 50, 100, and 500 lat banknotes were released, as well as coins of 1, 2, 5, 10, 20, and 50 santims, and 1 and 2 lats.

Latvian money is one of the most beautiful in the European Union. 10 lat notes feature the river Daugava, 20 lat notes – a Latvian farmyard, 50 lat notes – a sailboat, 100 lat notes – a portrait of folklorist Krišjānis Barons, and 500 lat notes – a Latvian maiden in traditional dress. The woman’s profile can also be seen in the watermark of all banknotes released in 1992.

Lat banknotes symbolically represent the winding path of the Latvian people through history, which began under sacred oak trees by the banks of the Daugava, the Latvian river of fate, and led on through well-tended farmyards to the Hanseatic League city of Riga, and on to freedom.

The reverse side of the one lat coin features a depiction of a salmon, while the two lat coin features a cow.

Commemorative coins

The Bank of Latvia has issued a total of 72 special commemorative coins. Pictures and values of these can be found here: http://www.bank.lv/lat/main/am/jubmon/lbpmcen/

Latvia’s commemorative coins have received international recognition. For example, on 9 August 2001, the silver one lat coin “Millennium” received the “Most Innovative Coinage Concept” award in the “Coin of the Year” competition organized by the American publisher “Krause Publications” and its magazine “World Coin News”. The jury consisted of more than 60 professional experts. The magazine’s 10 nominations establish the best coins in the world.

“Millennium” is not the only Latvian coin to have received an award. The others can be seen here: http://www.bank.lv/lat/main/am/balvas/