However, as Latvia moved closer to European integration, switching to the Euro became a strategic step. The Euro not only made trade and travel easier but also strengthened the country’s financial credibility in international markets.
Timeline:
1993: Latvian Lats introduced
2004: Latvia joins the European Union
2014: Latvia adopts the Euro
Why Latvia Uses the Euro
Latvia is one of the 20 European countries that are part of the Eurozone, which means they use the Euro as latvia phone number list their official currency. There are several benefits to this:
Simplified trade and tourism with other EU nations
More stable economy supported by the European Central Bank
Lower transaction fees for international business
Increased foreign investment due to financial transparency
Latvia Currency Exchange Rate
As of now, the Euro (EUR) is one of the most stable and widely used currencies in the world. Exchange rates fluctuate daily based on the global market, so it’s important to check before converting your money.
1 EUR ≈ 1.08 USD
1 EUR ≈ 0.85 GBP
1 EUR ≈ 1.60 AUD
You can convert currency at:
Airports
Banks
Currency exchange offices
ATMs in Latvia
Using local ATMs is often the easiest and most cost-effective way to get Euros while in Latvia.
Latvian Euro Coins and Banknotes
Since Latvia joined the Eurozone, it has issued its own national side designs for the Euro coins. While the coins are accepted across all Eurozone countries, Latvian coins are unique in their imagery.
Coins in use:
1, 2, 5, 10, 20, 50 cents
1 Euro, 2 Euros
Latvian Euro coins feature the iconic Latvian maiden and heraldic designs
Banknotes in use:
€5, €10, €20, €50, €100, €200, €500 (rare)
Banknotes are the same across all Eurozone countries