Latvia 2 Lati

$1.40

Do you have a Latvia 2 Lati Coin? Here’s how to exchange it with us.

 

  • Tell us how many 2 Latvian Lats you want to exchange
  • Click on the ‘Add to Cart’ button.
  • This will add the exchange value to your online wallet.
Repeat these steps for all banknotes, coins, stamps, and gift cards you want to exchange. Complete the checkout process and get paid within a week or less. 
You get: $1.40

Description

The lats was the official currency of Latvia from 1922 to 1940 and from 1993 to 2014. The official currency symbol: Ls.

The first lats was introduced in 1922, replacing the Latvian rublis. The Latvian Bank introduced coins in denominations of 1, 2, 5, 10, 20 and 50 santīmu, 1, 2 and 5 lati. Then Latvia was occupied by the Soviet Union in 1940. The Soviet ruble was introduced alongside the lats at par after the dismantling of the Bank of Latvia and its replacement with the Latvia Republican Office of the Gosbank, even though the real monetary value of the rouble was about three times lower. Thus both wages and prices were gradually raised to devalue the lats from June to November 1940. Buyer limitations for certain items were set to mitigate the effect of the exodus of goods sent to the USSR by Soviet occupying personnel who took advantage of the improved currency rate.

Despite the Soviet government’s initial commitment not to abolish the lats, it was taken out of circulation without warning in 1941, with all deposits bigger than 1000 lats being nationalized at the same time. At the outset of the occupation, a portion of Latvia’s gold, silver, and cash reserves were moved to Moscow.

In 1993, the lats was reintroduced and replacing the Latvian rublis. The lats coins were reintroduced in the same denominations, prior to the invasion of the soviet union, to later be replaced by the euro, which began its introduction on January 1, 2014.

The 2 Latvian lati commemorative coin front design features the National Coat of Arms, the country’s name, and the issue date.

The reverse of the coin presents an ethnographic motif that resembles an ancient swastika, against the background of seven horizontal lines, together with the dates of 1918 and 1993. The design is completed with the denomination. This coin is part of the 1993 commemorative series ‘’75th Anniversary of Proclamation of the Republic of Latvia’’. Its rim is plain with lettering: LATVIJAS VALSTS 75 GADI, and its color is silver.

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