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.
Flag of Latvia Flag of Latvia The national flag of Latvia () was used by independent Latvia from 1918 until the country was occupied by the Soviet Union in 1940. Its use was suppressed during Soviet rule. Shortly before regaining its independence, Latvia re-adopted on 27 February 1990 the same red-white-red flag. Though officially adopted in 1923, the Latvian flag was in use as early as the 13th century. The red colour is sometimes described as symbolizing the readiness of the Latvians to give the blood from their hearts for freedom and their willingness to defend their liberty. An alternative interpretation, according to