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Latvia and the euro

03 February 2008
by eub2 -- last modified 04 February 2008

Latvia joined the European Union in 2004 and is currently preparing to adopt 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:

Opinion polls and surveys


Euro websites




Source: European Commission