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 the Republic of Latvia "de jure" is a sovereign country. It observes that the Republic of Latvia proclaimed independence on 18 November 1918, and was internationally recognized in 1920, and that Latvia was admitted to membership in the League of Nations in 1921. The first country to recognize the independence of Latvia "de jure" was Soviet Russia on 11 August 1920, when the Soviet-Latvian Peace treaty was signed (it is generally considered that the independence of Latvia "de jure" was internationally recognized on 26 January 1921, when it was recognized by the Allies of World War I). The declaration notes