Eesti Pank will exchange Latvian lats for euros

Lat banknotes can be exchanged for euros in Eesti Pank from 2 January until the end of February at the central exchange rate and at no charge. Latvian coins cannot be exchanged.

On 1 January Latvia joined the euro area and on that date the euro became the currency of Latvia at the exchange rate of 1 euro = 0.702804 lats.

Latvian banknotes can be exchanged in the museum of Eesti Pank during its opening hours within the daily limit per person and per transaction of 1000 euros. The Eesti Pank Museum is open from Tuesdays to Fridays 12-17 and on Saturdays at 11-16.

Latvian banknotes will be exchanged by all the central banks of the euro area during the next two months.

Lat banknotes and coins can be exchanged at the central rate in bank offices in Latvia until the end of June and in 302 Latvian post offices until the end of March. The Latvian central bank will exchange lats for euros at the central rate with no limits on amounts or on time.

Lats in current accounts in Latvian banks were automatically converted to euros at the central rate without any service fee.

The lat will continue to serve as legal tender for two weeks following the changeover to the euro but from 15 January the euro will be the only legal tender in Latvia.

From the start of this year it will only be possible to exchange kroons for euros in the museum of Eesti Pank.

Source: Bank of Estonia

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