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 of Latvia is vested in the people of Latvia."3. "The territory of the State of Latvia, within the borders established by international agreements, consists of Vidzeme, Latgale, Kurzeme and Zemgale."6. "The Saeima shall be elected in general, equal and direct elections, and by secret ballot based on proportional representation." Article 6 shall be applied when the governmental institutions of independent Latvia have been restored, which grant free elections. 5. To set a period of transition to de facto independence until the first session of the new Saeima. During the transitional period the highest power of the state shall be the