National currency is the Latvian lat (Ls). One lat equals 100 santims. There are banknotes of 5, 10, 20, 50, 100 and 500 Ls denomination, coins of 1, 2, 5, 10, 20, 50 santims and 1 and 2 lats.

The lat as a national currency was introduced in October of 1993 and due to the policy of the National Bank of Latvia lat is pegged to euro at a constant rate. One euro   corresponds to 0,702804 lats.

Most of the shops, restaurants, hotels in the major towns accept credit cards, but if you travel to provincial towns, better take sufficient amount of cash with you. Cash machines are installed at the majority of banks, major petrol stations, at the airport and at the Central Post Office in Riga.

Traveler’s cheques and Eurocheques can be exchanged at the largest banks. You can exchange your money either in banks or exchange offices. The exchange rate is practically the same in all the exchange points, with the exception of the Exchange offices in Airport. Note: Torn banknotes, banknotes with ink marks or old banknotes (for example, 100 US Dollar bills issued before 1990) are not accepted for exchange, so always take with you only good paper money.

Banks are open on working days from 9 a/m to 5 p/m.