Latvia and the euro

Latvia at a glance

Surface area: 64 590 km₂
Population: 2 281 305 (Eurostat 2007)
Joined the European Union: 1 May 2004
Currency: lats (LVL)

Euro information

Status: Latvia is not yet a member of the euro area. The Latvian lats joined the Exchange Rate Mechanism (ERM II) on 2 May 2005, and observes a central rate of 0.702804 to the euro with standard fluctuation margins of ±15, but Latvia unilaterally maintains a 1% fluctuation band around the central rate.

Exchange rate: The current euro to lats foreign exchange reference rate can be consulted on the website of the European Central Bank (updated daily).

Adoption of the euro: Latvia currently has no target date for the adoption of the euro.

Documents and publications:

• National Euro Changeover Plan (Latvian government, also in English and Russian)
• Fifth report on the practical preparations for the future enlargement of the euro area. COM(2007) 434 final (European Commission)
• 2006 Convergence Report. COM(2006) 762 final, also published as European Economy, No. 1/2006 (European Commission) 
• Latvian lats included in the Exchange Rate Mechanism (European Commission, 29 April 2005) 
• General publications

Opinion polls and surveys

• Flash Eurobarometer 207 (May 2007)
• Flash Eurobarometer 191 (November 2006)

Downloads

• ‘eiro.lv’ campaign logo

Websites

Euro websites

• Euro section on the Latvian Ministry of Finance’s website, also in English

Institutions

• Latvijas Banka (Bank of Latvia, also in English)
• Finanšu ministrija (Ministry of Finance of the Republic of Latvia, also in English)

Business

• Latvijas Tirdzniecibas un rupniecibas kamera (Latvian Chamber of Commerce and Industry, also in English and Russian)
• Euro Info Centres in Latvia

Consumers

• Pateretaja Celvedis (Consumer guide)