LATVIA

(LVL) Currency News >>

CURRENCY:

Latvian Lat - LVL, Symbol Ls

DENOMINATIONS:

NOTE: Ls500, 100, 50, 20, 10 and 5.

COIN: Ls2 and 1, and 50, 20, 10, 5, 2 and 1 santims.

US DOLLAR ACCEPTED?

N/A

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards are accepted. ATM machines are available in larger towns and cities.

CURRENCY EXCHANGE:

Easy to access, there are bureaux de change widely available in larger towns - in stations, hotels, stations and post offices. The easiest currencies to change are the Euro and US dollar.

TRAVELLER'S CHEQUES:

These are best in US dollars or Sterling.

BANKING HOURS:

Mon-Fri 0900-1700. Note some banks open on Saturday mornings.

CURRENCY RESTRICTIONS:

N/A

COUNTRY OVERVIEW:

Latvia's full name is the Republic of Latvia and is located in the Baltic region of North Europe. It has been a member of the EU since 2004 though has not yet adopted the Euro as its currency. The people of Latvia are related culturally to the Lithuanians and the Estonians - the language of Latvia (Latvian) is, along with Lithuanian the only Baltic language (Indo-European) which survives. The capital is Riga.

POPULATION:

Around 2 million.

ECONOMY:

Latvia has a flat tax system, which some believe to be the reason that the country's growth rate, which has been rapid since 2000. Most companies in Latvia are now privatized. Trade and foreign investment has increased since Latvia signed treaties with the Unites States.