Bank of Latvia Bank of Latvia The Bank of Latvia () is the central bank of Latvia. It is one of the key public institutions and carries out economic functions as prescribed by law. It was established in 1922. 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 31 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.
On the Restoration of Independence of the Republic of Latvia established in Latvia and it should join the Soviet Union and that results of the election were falsified. The declaration observes that the People's Saeima was formed by misleading the people and therefore did not express the sovereign will of people of Latvia. It also notes that the People's Saeima had no right to change the political system in Latvia and liquidate its sovereignty as only the people have such right and the issue was never submitted to a national referendum. Therefore the Declaration rules that, in accordance with international law, the annexation of Latvia to the Soviet Union was