Most tourists, arriving in Latvia, seek to visit the capital of this European country. But outside of Riga, Latvia also has many interesting and picturesque places with a rich history. The magnificent and picturesque ruins of medieval castles are located in Cesis and Sigulda. It is also worth visiting the Gau National Park, which is located in the eastern part of Latvia and is a huge pine massif. Fans of resorts should visit Jurmala, Liepaja and Ventspils. It is here that you can find upscale hotels and sandy beaches.
Of course, traveling to picturesque Latvia requires money. We invite you to find out what the currency of Latvia is called and get acquainted with its history.
Latvia before the war
Until the beginning of the thirteenth century, the territory of Latvia was mostly inhabited by pagan tribes who were engaged in agriculture and did not have their own statehood. But then the Zemgals, Selams, Kursams and other tribes of the ancient Balts were captured by German crusaders, and this territory turned into Livonia - a confederation of feudal states. It was the crusaders in 1282 who founded the capital of modern Latvia, Riga, and several other cities - Limbazi, Valmiera, Koknes, Cesis.
In the 16-17th century, Latvia was ruled by Poles and Swedes. At this time, a war was fought for this territory between the Polish-Lithuanian principality, Russia and Sweden. As a result, in the 17th century there was a consolidation of peoples into a single Latvian people who spoke a common Latvian language.
In the years 1710-1717 (during the Northern War) Peter the Great, after a siege of many months, took the city of Riga - and Latvia (Latgale) joined the empire. At the end of the 18th century, Latvia became a developed province of Russia and competed with the port city of St. Petersburg.
History of Latvia after the First World War
During the First World War, a part of Latvia was captured by the German army, but upon its completion the country had a chance to gain the long-awaited statehood. The winners did not allow the losing Germany to retain the lands of Latvia, but did not consider it necessary for them to be taken over by Soviet Russia. Thus, in 1918, Latvia gained independence.
In 1940 (August 5), during the events of World War II, the state government appealed to the Supreme Soviet of the USSR with a request to include Latvia in the Union. But this did not save Latvia, it was under German control until July 1944, and the territory of Kurzeme (in particular, the largest ports of Liepaja and Ventspils) - until May 1945. At the end of World War II, Latvia was again part of the USSR, and until 1991 it was a Soviet republic.
After 1991, a decree was approved on the assignment of independence to the Baltic republics, including Latvia.
Country currency
The national currency of Latvia is lat (Lats), denoted by the symbol Ls, is a decimal currency. For a long time, the lats competed with the European pound.
Highlights in the country's monetary history:
- 1919 - the first Latvian rubles and kopecks appear;
- 1922 - the lat becomes the national currency;
- 1940 - banknotes in denominations of 10, 20, 25, 50, 100, 500 lats, coins of 1, 2, 5 lats and 1, 2, 5, 10, 20, 50 centimes are issued;
- the end of 1940 - the Soviet ruble was introduced into circulation, since the Bank of Latvia acquired the status of the republican branch of the USSR State Bank;
- 1992 - Latvian currency - Latvian ruble;
- 1993 - a new lat is introduced again.
What is the currency in Latvia today? This is the euro. This monetary unit was introduced on January 1, 2014 as a result of Latvia's integration into the European Union.On the same day it was impossible to get lats from ATMs, but within six months an exchange for euros was possible at any bank, and at the national Bank of Latvia (Latvijas Banka) the exchange is unlimited in amount and is unlimited.
EU member states are allowed to use their design on coin reverse, although banknotes are the same everywhere. Latvian euro coins depict the basic values and symbols of Latvia. The profile of a girl in a national Latvian costume flaunts on a silver Latvian coin, and the country's small and large coats of arms are minted at euro cents.
Currency exchange
More recently, the Latvian currency (lats) was changing to the euro at the following rate: 1 Ls = 0.17 EUR.
And the current rate for December 2015 is as follows: 1 EUR = 73.610900 RUB; 1 EUR = 1.090200 USD.
Banks work on weekdays from 9:00 to 17:00, with the exception of some branches that are located at the station or in large supermarkets.
Financial tips for tourists
What currency should I take with me to Latvia? Currency exchange is well organized and established in the country, so you can take any money with you. You can convert at any exchange office, hotel, post office, ATM, bank, train station and airport.
Also in Latvia, such payment systems as Visa Electron and MasterCard are widespread. They can be used in almost all stores, restaurants and hotels. But in the central market, bazaar or when buying a ticket, cash will be required.
