1st of January - Eurozone joined Latvia!

Dual Circulation Period

A dual circulation period of the lats and the euro

To ensure convenient cash circulation following the euro changeover is it planned to introduce a two-weeks dual circulation period of both currencies - lats and euro. During this period it will be possible to pay for goods and services both in the lats and euro, which means that traders will be obligated to accept both the lats and euro coins and banknotes.

The one-month period will be provided to allow citizens to spend their cash reserves in lats planned for one month without exchanging to the euro.

The lats banknotes and coins will be gradually withdrawn from circulation and replaced with the euro banknotes and coins. A two weeks after the euro changeover day euro-cash will become the only legal tender.