DEFINITION of 'LVL (Latvian Lat)'

The currency abbreviation for the Latvian lat (LVL), the currency for Latvia. The Latvian lat is made up of 100 santïms and is often presented with the symbol Ls before the numerals, or s after them (Ls100 or 100s).

BREAKING DOWN 'LVL (Latvian Lat)'

The Latvian lat replaced the Latvian ruble in 1922, but was replaced by the USSR ruble in 1940 when Latvia became part of the USSR. In 1993, Latvia regained its independence, and the lat was restored as the official currency, replacing the ruble at a rate of 1:200. Latvia planned to adopt the euro in 2008, but was unable to reduce its inflation to the required level in time to do so.

RELATED TERMS
  1. LVL

    The abbreviation for the lat, the currency of Latvia. The Latvian ...
  2. RUB (Russian Ruble)

    The currency abbreviation the Russian ruble (RUB), the currency ...
  3. JPY

    The currency abbreviation or the currency symbol for the Japanese ...
  4. NZD

    In the currency market, this is the abbreviation for the New ...
  5. JPY (Japanese Yen)

    The currency abbreviation or the currency symbol for the Japanese ...
  6. Currency Symbol

    A graphical symbol used as a substitute for the actual name of ...
Related Articles
  1. Trading

    The 6 Strongest Currencies Vs. The U.S. Dollar in 2016

    Learn about the world currencies that are stronger than the U.S. dollar, as of February 2016, as well as which factors have contributed to the dollar's strength.
  2. Insights

    A Look at Greece’s Messy Fiscal Policy

    Investigate the muddy fiscal policy, tax problems, and inability to institute austerity that created the Greek crises in 2010 and 2015.
  3. Investing

    What's a Bank Guarantee?

    Bank guarantees are used to assure a third party of payment or performance of an obligation. The obligation can be either to pay an amount due or to perform on a contract. By granting the guarantee, ...
  4. Trading

    How Forex Speculators Profited From Famous Currency Meltdowns

    Studying currency meltdowns shows traders how they can avoid big losses (or make big money) when global politics tilt the forex market.
  5. Investing

    4 ETFs To Trade the Russian Ruble (RSX, ERUS)

    Discover which exchange-traded funds (ETFs) provide investors with the greatest exposure to the Russian ruble and learn about the risks that come with each.
  6. Financial Advisor

    3 Signs the Russian Economy Is Recovering

    Understand what has caused the Russian economy to decline in the past 18 months. Learn about key factors that are helping it recover.
  7. Trading

    The 6 Most-Traded Currencies And Why They're So Popular

    Regardless of the reason, forex is an integral part of 21st century finance. And the more widely used and reliable the currency, the greater the likelihood of people buying and selling it every ...
  8. Investing

    Why The Russian Economy Rises and Falls With Oil

    The Russian economy depends on profitable oil production to pay for the cost of government, prop up the ruble, and provide most of it exports revenue.
  9. Taxes

    Should The U.S. Switch To A Flat Tax?

    Some countries have begun charging a flat tax rate instead of the gradual tax system of the Western world.
  10. Insights

    Examples Of Negative Interest Rates

    Negative interest rates seem like an abstract notion. But, they have practical consequences for an economy and are present all around us.
RELATED FAQS
  1. Who decides to print money in Russia?

    Read about the Central Bank of the Russian Federation, its organizational structure and the role it plays in setting the ... Read Answer >>
  2. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  3. Are eurodollars related to the currency called the euro?

    Eurodollars have little to do with the official currency of the European Union, the euro (EUR). In 1999, the euro was implemented ... Read Answer >>
  4. Why isn't the EUR/USD currency pair quoted as USD/EUR?

    In a currency pair, the first currency in the pair is called the base currency and the second is called the quote currency. ... Read Answer >>
  5. In what situations would a loan to an S Corporation from one of its principals be ...

    Learn how creating a debt agreement is the key to ensuring a principal's loan to an S corporation is not classified as an ... Read Answer >>
  6. When and why did the euro make its debut as a currency?

    On January 1, 1999, the European Union introduced its new currency, the euro. Originally, the euro was an overarching currency ... Read Answer >>
Hot Definitions
  1. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  2. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  3. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  4. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
  5. Job Market

    A market in which employers search for employees and employees search for jobs. The job market is not a physical place as ...
  6. Yuppie

    Yuppie is a slang term denoting the market segment of young urban professionals. A yuppie is often characterized by youth, ...
Trading Center