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The lats banknotes and coins will be gradually withdrawn from circulation and replaced with the euro banknotes and coins.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