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.
History of Latvia couple of months was the virtual capital of Latvians. Iskolat moved to ban the Provisional Council in December, 1917. On January 5, 1918, during the only meeting of democratically elected Constituent Assembly of Russia, which was abolished by Bolsheviks, Latvian deputy Jānis Goldmanis, the initiator in 1915 of creation of Latvian Riflemen units, read a declaration of separation of Latvia from Russia. On its second meeting, which was held in Petrograd, the Latvian National Council on January 30, 1918 declared that Latvia should be an independent, democratic republic, uniting Latvian regions Kurzeme (which includes Zemgale), Vidzeme and Latgale. On March