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 not valid and the Republic of Latvia is still "de jure" subject to international law as recognized by more than 50 countries. After concluding that the Republic of Latvia "de jure" is a sovereign country the Declaration makes note of previously adopted documents and explains that the Supreme Soviet is acting according to the will of inhabitants of Latvia. First it notes two previous declarations of the Supreme Soviet — "On sovereignty of state of Latvia" of 28 July 1989, which declared that the Latvian SSR will act as a sovereign state and that laws adopted by the Soviet Union