Latvia joined the euro area on 1 January 2014. On that date the euro replaced the lats at the fixed exchange rate of €1 = LVL 0.702804. Following a two-week period when both currencies were in circulation, the lats ceased to be legal tender on 15 January 2014.
Lats can be exchanged at 302 post offices in Latvia at the fixed exchange rate, free of charge, until 31 March 2014. Banks will do the same until 30 June 2014.
Latvijas Banka will also exchange Latvian lats banknotes and coins at the fixed exchange rate in unlimited amounts for an indefinite period. This service is free of charge.
Other euro area national central banks (NCBs) will exchange Latvian lats banknotes, free of charge, from 1 January to 28 February 2014. The amount is limited to €1000 for any given party/transaction on any one day.
The European Central Bank (ECB) and Latvijas Banka have prepared a communication campaign for Latvia. It includes:
The Partnership Programme provides communication materials to businesses and other organisations which are interested in passing on information about euro banknotes and coins in Latvia.
Latvijas Banka and the European Central Bank invite you to join forces with them to spread the euro “message”. As a partner, you will have access to information on the euro that you can pass on to your customers, business associates and employees. It will ensure that all your stakeholders have accurate information from a reliable source in good time.
To find out more about the Programme, please contact email@example.com.