In 2011 the amount of currency in circulation increased by 23.7% and stood at 1 160.2 million lats on 1 January of the current year.

The Bank of Latvia, the country's central bank, is an independent institution that sets and executes monetary policy, manages the foreign currency and gold reserves, emits cash currency and ensures the functioning of the interbank settlement systems, and compiles financial statistics.
The Bank of Latvia is a participant in the European System of Central Banks.

Information for:

What's new

27.01.2012 Macroeconomic Developments Report. Jaunuary 2012
19.01.2012 Press conference of Ilmars Rimsevics, Governor of Bank of Latvia
19.01.2012 On the Resolutions of the Bank of Latvia Council
10.01.2012 Stone coin
04.01.2012 The Bank of Latvia Plans to Issue New Collector Coins

Highlights

Latvia plans to be ready to introduce the euro in 2014

The euro is not medicine for all economic maladies, but it provides the economy with an opportunity of faster growth and cheaper payback of the debt accumulated during the crisis.
The Maastricht criterion figure is a moving target for euro introduction

As predicted, inflation will continue to drop in 2012, but the Government has a plan in place.
In 3 years, budget deficit brought under control, but stability is fragile

GDP will grow slower in 2012, possibly requiring additional budget consolidation.
Latvijas Banka ensures euro payments in Europe

Latvijas Banka, in advance to euro introduction, ensures safe and effective infrastructure, which will be used by the system's participants for the everyday payments of their customers – businesses and consumers.