Latvia Lats
Latvia uses the lats (this is the singular, the plural is lati) as its currency. Each lats is then divided into 100 santimi, which is basically the same as the French word centimes, meaning cents.
The Bank of Latvia issues the lats and it comes in coins and notes. Coins come in 1,2, 5, 10, 20 and 50 santimu and 1 and 2 lati. Notes are issued as 5, 10, 20, 50, 100 and 500 latu.
On international markets, the currency is denoted by the letters LVL.
History of the Lats
The very first lats was introduced into Latvia as early as 1922, when it replaced the Latvian rublis. However, in 1940, Latvia became part of the Soviet Union and as a result the currency in use had to be the Russian ruble.
Then, after the collapse of the Soviet Union, the decision was taken once again to introduce the lats as the official currency. Immediately after the collapse of the Soviet Union it has used the Latvia rublis, but it decided that it should have its own currency i.e. currency actually produced in Latvia and not dependent on Russian production (as was the case with the Latvian rublis).
So, in 1993, the second lats was introduced and has been in use ever since. But it does not have a long life span. Latvia should, by the year 2012, have joined the euro zone: in which case the lats will actually cease to be legal tender and instead, the euro will be the currency in use.
Getting Hold of Lats
ATM machines are now fairly common in Latvia, which makes getting hold of lati relatively easy. However, as a general rule, it is best to think of ATM's being available in Riga, which is the capital and in a lot of major towns and other cities, but not really available in the country and more remote areas. So if you do plan on going off the beaten track, then always plan ahead and make sure that you take some money with you.
Due to the fact that Latvia has of late, become quite a hotbed for fraud, including internet crime, or crimes whereby money is basically sent to Latvia (fraudulently) and then quickly withdrawn, you will need to inform your bank that your card will be used in Latvia, otherwise it may get stopped if it is used there, since the bank or card provider may think that it is being used fraudulently. Having your card cancelled when abroad is a major hassle, so make sure that you sort this out before you go to Latvia, rather than having no access to cash when in the country.
Traveller's cheques will also be readily accepted, but you will have to pay the bank a percentage of the sum exchanged, I addition to any exchange fees.
If you want to take cash in to exchange, then you are probably best taking euros or US dollars. Euros are sometimes preferred, since this will be the currency in use in a short time.
One important thing to remember is that Latvian lati are very difficult to change outside of Latvia, so either spend them all before you leave Latvia, or else you can exchange them before you go. But if you keep them because you want to come back, then hurry, because from 2012 onwards, Latvia will be using the euro.
Safety Issues
Latvia is not an unsafe country for travellers. That being said, there are some risks around travelling in Latvia, but overall it is not a 'high risk' destination. Street crime is the main problem, with pick pocketing and bag snatching, particularly common and in Riga, the risk of someone trying to steal something from you is considerably higher than in other parts of the country, so it pays to be on your guard when in Riga.
Sadly, tourists seem to be targeted on the grounds that they are affluent (or at least more affluent than the ordinary Latvian) and that they will be an easy target. So if you keep your wits about you and stay alert and look like you know what is going on, then you are less likely to be targeted.
Be wary of prices in bars. Some foreigners have been charged exorbitant and completely fabricated prices for drinks and then have been forced to go to an ATM and get money out to pay the huge bill.
Recently there have been tales of foreign travellers being drugged when out having a drink and they have then been robbed. But these instances are actually quite rare, the main thing is just to be on your guard if having a drink and it is good sense anyway not to leave your drink unattended.
One safety issue that you do need to think about when out and about is that the roads in Latvia are particularly unsafe and if you are thinking about driving, then think very carefully, since it is a dangerous country in terms of car accidents. It has one of the highest rates of car accidents in the whole of Europe and the road conditions are poor. You should also bear this in mind if you are offered a lift: but if your nerves are up to it, you may enjoy the adrenaline rush that is being in a car in Latvia !
Spending Lati
Latvia is not the cheapest destination in the world and the prices, on the whole are comparable with some other countries in Europe, so if you are looking for very cheap prices, then apart from cigarettes, which are incredibly cheap, as well as good local wine, then you will probably be disappointed. However, if you are into local wines and cheap cigarettes then you may overindulge for ridiculously low prices!
Meals in restaurants are relatively good value though, since eating out is part of the culture. The food generally is very good and although it started out from very rural type cuisine, almost like peasant food, it is now very fashionable, with lots of locally sourced products that are blended together to make some excellent dishes.
Like nearly everywhere, the capital Riga, is more expensive than other areas, but then you get a lot more choice here, so it is a case of more choice but more expensive or a lot less choice and far less expensive!
For bargain hunters there are some good buys to be found in Latvia. One thing that it is quite famous for is amber. The amber that comes from Latvia tends to be of a very high quality and is often very well made into quite big, signature pieces that you would find would cost the earth in most other European countries.
Most of the amber is set into silver and the range of silver jewellery on offer is also very good and prices quite keen. Again, you will get more choice of items to buy in Riga, but the costs will also be higher. Most of the jewellery is designed for women, but occasionally men can find some nice rings to buy as well.
Out and About in Latvia
There is a lot of culture to be explored in Latvia, with a lot of castles and fortresses to be seen and many of them are quite imposing and look very much likes castles do in films. The country has quite a vibrant history, with it being a central point between Scandinavia and the southern parts of Europe. This strategic importance mean that it was a country that became important throughout Europe as a whole.
Riga's centre is actually a very vibrant centre and has a spectacular range of art nouveau buildings. Indeed so significant are these, that the centre has actually been designated a UNESCO World Heritage Site. So for anyone who is 'into' architecture, or simply into the Art Nouveau movement, Riga will certainly delight.
In addition to all the art nouveau buildings and medieval castles, there are also some fantastic natural sights to be seen, such as the forest areas, with around half of the country actually covered in quite dense forests, with some amazing wildlife in them.
Kuldiga has a really beautiful waterfall to be seen. Not quite Niagara Falls, but then not as busy as Niagara Falls.
You can even enjoy beach holiday in Latvia, since it actually has the biggest resort in the whole of the Baltic. So if you want to see how the former Soviet Union used to holiday, then get over to Jurmala, which may have some very ugly buildings, but is also blessed with the most beautiful and extensive beach!
There are lots of national parks as well, so there is lots to do whatever you are into or enjoy.
Overview
Latvia is often overlooked as a holiday destination, which is a real shame, since it has a lot to offer and although it is not as cheap as some former Soviet Union countries, it is still good value for money, particularly if you buy some amber or silver jewellery which can even be an investment.
The whole country seems steeped in culture and despite the fact that Latvia is now part of the EU, there is something about the country that sets it apart from Europe, as if it is European in name only, but it still ahs its own culture, ideas and philosophy.
The castles, tall and imposing that have stood since medieval times (or even some slightly earlier) give the whole country an air of being an ancient land, that is proud of its history, but who is now looking forward to a new place, within Europe, yet still retaining its own national identity.
Obviously as time goes on, there is a risk that it will simply become more and more European, but in the interim, it really is just that little bit different and also, just that little bit more special!
For further information on Latvia, why not have a look at http://www.latviatourism.lv. It can help provide sneak insight into the culture and psyche of this very different country.
Lats and latis – not a currency I am ever likely to use! But still it’s good to have a look and find out more about it.
It does seem to be good for a holiday destination though, and I had never thought of it in that way before. I had heard of the country but that was about it. I never thought it was that interesting. Just goes to show how wrong you can be!
So many places are ruined by becoming more tourist heavy though, so I hope this doesn’t follow that same path. It would be a real shame if it did.
— Allison · Dec 18, 04:37 PM · #