The Bank of Latvia is the central bank

Central bank

A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...

 of Latvia

Latvia

Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...

. 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. It is responsible for issuing coins and banknotes in the Latvia's currency the Lats

Latvian lats

The lats is the currency of Latvia. It is abbreviated as Ls. The lats is sub-divided into 100 santīmi ....

.

The Bank of Latvia administration is located in Riga

Riga

Riga is the capital and largest city of Latvia. With 702,891 inhabitants Riga is the largest city of the Baltic states, one of the largest cities in Northern Europe and home to more than one third of Latvia's population. The city is an important seaport and a major industrial, commercial,...

. The fiscal year for the bank begins on 1 January and ends on 31 December.

Governors of the Bank of Latvia

• Artūrs Graudiņš
• Pēteris Sakss
• Einars Repše (1991–2001)
• Ilmārs Rimšēvičs (2001–present)

External links

Official site of Latvijas Banka Official site of Latvijas Banka

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