Latvia introduces the euro

The changeover from settlements in lats to settlements in euro was implemented.

The timely preparation of the payment infrastructure facilitated successful euro changeover in Latvia and ensured a smooth transition from settlements in lats to settlements in euro.

With Latvia joining the euro area, a small share of Latvijas Banka's gold and foreign currency reserves was transferred to the European Central Bank and is managed together with Oesterreichische Nationalbank.

Since its joining the euro area, Latvijas Banka has participated in the formulation and implementation of the euro area's monetary policy.