Latvian lats Lūsis and Jānis Strupulis. All banknotes are 130 × 65 mm in size. They were printed by Giesecke & Devrient GmbH in Germany and were designed by Imants Žodžiks and Valdis Ošiņš. The lats was the fourth-highest-valued currency unit after the Kuwaiti dinar, Bahraini dinar, and the Omani rial at the end of its circulation. The 500 latu note was the world's third most valuable banknote after the $10,000 Singapore note and the 1,000 Swiss franc note. Latvian lats The lats (plural: "lati" (2–9) "latu" (10 and more)), ISO 4217 currency code: LVL or 428) was the currency of Latvia
Baltic states housing bubble was unsustainable; many banks in the Baltic states found themselves "trapped" with high debts denominated in euros. When the housing price in the Baltic states crashed, banks in the Baltic States were unable to re-pay their debts due to high non-performing loans and lacked of liquidity to sufficiently cover their debts to the parent banks. Following the integration with the European Union, the Baltic States enjoyed strong economic growth and subsequently among the fastest economic growth in Europe. Thus, the Baltic States emerged as the top destinations for foreign direct investment (FDI). Generally majority FDI into the Baltic States was