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.
Culture of Latvia Orthodox Christian minorities. Latvia is divided into several cultural and historical regions: Vidzeme, Latgale, Courland and Zemgale. Sometimes, Sēlija and Maliena are also distinguished. Latvians have the rich heritage of traditional folklore, especially folk songs. Dating back well over a thousand years, more than 1.2 million texts and 30,000 melodies of folk songs have been identified. A form of traditional architecture in Latvia is log houses. The position of houses differs among regions. In western Latvia, single farms are more popular and in villages, the houses are positioned in a circle around a central square. In eastern Latvia, villages are