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Latvia (LVL) Latvian Lats
The Lat is the currency of Latvia and is represented by the currency code LVL.
It is divided into one hundred ‘santimi’ derived from the French word ‘centime’.
Symbols used are ‘Ls’ which comes before the numeral and ‘s’ which comes after a
numeral. The Euro will be replacing the Lat in 2012.
Currently in circulation
Coins issued are in the denominations of 1 santīms, 2 santīmi, 5 santīmi, 10
santīmu, 20 santīmu and 50 santīmu and 1 lat and 2 lati. Banknotes in
circulation are in the denominations of 5 lati, 10 latu, 20 latu, 50 latu, 100
latu and 500 latu.
Exchange facilities and traveller’s cheques
Foreign currency can be changed at banks, money exchange kiosks and some of the
hotels. Soiled, marked or torn US dollars will be charged an additional 4% fee
for exchange. Traveller’s cheques are rarely used in Latvia and not accepted by
most merchants. The local banks normally charge a 4% fee for cashing traveller’s
cheques.
Using credit/debit cards
In Latvia, goods and services are usually paid for in cash. Apart from Riga,
credit cards are not commonly accepted in Latvia. You can use your ATM card to
withdraw Latvian lats from the numerous ATM’s that can be found throughout the
larger cities, airport, railway station, bus stations and in some of the hotels
and
restaurants.
Latvian Lats Restrictions
There is no restriction as to the amount of local lats and foreign currency that
can be carried by a person travelling from or to another EU country. However, if
a person is arriving from or travelling to a destination outside of the E.U.,
then an amount of Euro 10,000 or more or an equivalent in another currency
including banker’s drafts and cheques, has to be declared at the customs’
office.
Latvia: An overview
Latvia is a small country along the Baltic Sea, basking in its magnificent
history and rich cultural heritage. There are many tourist attractions apart
from which you can enjoy the serenity of the Gulf of Riga and the open Baltic
Sea. The fascinating medieval castles and the outstanding monuments are
certainly worth a visit.
The cost of living in Latvia is reasonably low in comparison to other countries.
A night’s stay at a 2/3 star hotel would cost you about L35/$65/£46/Є59. A
bottle of good wine is priced at about LVL6.34/$12/£8/Є9. A three-course dinner
at a restaurant would add up to LVL11.50/$21/£14/Є16.
