Currency Information on Latvian Lats - LVL — Latvian Lats – Ls
First introduced in 1922, the lats replaced the Latvian rublis at a rate of 50 rublis: 1 lat.
The lat was later replaced by the Soviet Ruble at a 1:1 ratio, until a few years after Latvia regained independence, when they reintroduced the lat at a rate of 200 rublu: 1 lat, in 1992. One lat subdivides into 100 sentime.
Coins are available in denominations of 1, 2, 5, 10, 20 and 50 santīmu, 1and 2 lati. Banknotes are in circulation in denominations of 5, 10, 20, 50 and 100 latu; the 500 latu note exists, but is rarely used.
We are an international business and work with companies around the world, especially California in the US and Australia. Our providers are based in different countries so we need to be constantly up to date about the current foreign exchange rates. Otherwise, we would be wasting money during the currency transfer process and obviously this is not what a business wants.
Comment written by Victoria Brown Wine Industry.
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