EUR 2.3 million worth of Latvian lats banknotes and coins exchanged for euros in 2019

  • 2020-01-13
  • LETA/TBT Staff

RIGA - Last year LVL 1.6 million (EUR 2.3 million) Latvian banknotes and coins were exchanged for euros at the Bank of Latvia, said the bank's spokesman Janis Silakalns.

He said that at the end of 2019, still  lats banknotes and coins worth LVL 85.9 million or EUR 122.2 million had not been exchanged for euros. This includes  340.9 million lats coins weighing 782 tons.

 Most of the lats coins not yet exchanged are of the smallest denominations - 240 million one-santim and two-santim coins. Meanwhile, there are still not yet exchanged 24 million one-lat coins.

The Latvian central bank reported that 39 percent of lats coins, worth LVL 28 million (EUR 39.8 million) and 96 percent of lats banknotes, worth LVL 940 million (EUR 1.337 billion), have been taken out of circulation by the end of 2019.

Latvia gave up its national currency, the lats, and switched to euros on January 1, 2014.