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Latvia became the 18th member of Eurozone

08.01.2014 11:16
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. There will be a two-week period when both currencies are in circulation, with change normally provided in euro. The lats will cease to be legal tender on 15 January 2014.

Exchanging Latvian lats  
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.

You can see what the new currency is going to look like upon link