Latvian Lats is the basic unit of currency of Latvia. The currency ISO code of Latvian Lats is LVL. The Latvian Lats is included in the Exchange Rate Mechanism ERM II since May 2 nd, 2005.
The central rate of Latvian Lats is set at 1 euro = 0.702804. The standard fluctuation band of plus or minus 15 % will be observed around the central rate. Latvian Lats entered the Exchange Rate Mechanism ERM II of the European Union. Since May 2, 2005, the Latvian lats belongs to the ERM II with a +/- 15% parity band on both sides of its central rate in euro fixed at 0.702804 LVL.
Latvia is a Member State of the European Union since May 1st, 2004.