1 The Bank of Latvia still exists but many functions have been taken over by the European Central Bank.
Bank of Latvia headquarters in Riga.
The Bank of Latvia (Latvian: Latvijas Banka) is the central bank of Latvia. It is one of the key public institutions and carries out economic functions as prescribed by law.
The principal objective of the Bank of Latvia is to regulate currency in circulation by implementing monetary policy to maintain price stability in Latvia. Until the 31st of December 2013, the bank was responsible for issuing the former Latvian currency, the Lats. The Bank of Latvia administration is located in Riga. The fiscal year for the bank begins on 1 January and ends on 31 December.