Latvian lats being equivalent to 1 lats. The 5 lats banknote was introduced at first, and the last banknote to be introduced was the 500 lats banknote on 20 July 1998. The lats was replaced on 1 January 2014 by the Euro, at the rate of 0.702804 Lats to 1 Euro. The second lats can be exchanged to euros at the official rate at the Bank of Latvia's cashier's office in Riga. Coins were issued in denominations of 1 santīms, 2 and 5 santīmi, 10, 20 and 50 santīmu, 1 lats and 2 lati. Besides standard coins in the list below and
State continuity of the Baltic states Molotov–Ribbentrop Pact and its Secret Protocols. The Commission agreed that the Pact existed and its content was contrary to Baltic–Soviet treaties. The Commission was not able to reach consensus on the effects of the pact, since it would open the possibility to Baltic exit from the Soviet Union. The issue has not been discussed in the Russian Federation since the report of the Commission in 1989. Contemporary Russian Federation has refused to be bound pre-1940 agreements which the Soviet Union had entered with the Baltic states. The Ministry of Foreign Affairs of Russia has announced that the distortion of history