Published: 06.10.2017
Gold reserves

The recovery of Latvias Banka's gold deposited with foreign banks took place from November 1991 to May 1994. Latvijas Banka gradually recovered a total of 7.7 tons of gold deposited with Banque de France, the Bank for International Settlements, the US Federal Reserve System and the Bank of England.

Initially, the reserves comprised the recovered gold, some long-term securities recovered from the US Federal Reserve System, as well as the loan received from the International Monetary Fund which remained unused and was later paid back. Latvijas Banka's reserves increased from approximately 200 million lats in 1993 to 5.8 billion euro at the end of 2016.