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 Culture of Latvia The culture of Latvia combines traditional Latvian and Livonian heritage with influences of the country's varied historical heritage. The area of Latvia has been inhabited since 9000 BC. Baltic tribes, the ancestors of present-day Latvians, arrived around 3000 BC. In the 13th century after conquest of today's Latvia, Baltic Germans settled here and gradually became the upper class and rulers of Latvia, while Latvians and Livonians lost their positions finally becoming serfs in the 16th century. This caused the Germanisation of the educated inhabitants of other nationalities, yet preserved some local traditions. In the 19th century, when