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Patricia Tourist Office in Riga provides information on what types of currency to bring an to Latvia and the precautions on money conversion and ATM machine usage

Currency & money in Latvia

The official currency of the Latvian Government is the Latvian LAT. There are three abbreviations that are commonly used. They are (LS), (LVL) and sometime (LAT or LATS). The Euro is used for hotel, apartment and real estate pricing and for most apartment rental transactions. The US Dollar is  being used less and less.

Payment for goods and services in shops, hotels, cafes and restaurants is only in Latvian Lats and usually in cash.

Credit cards are not widely accepted especially out of Riga.

It is recommended that you use your ATM Bank card to withdraw Latvian Lat money from a bank automat machine which are located all over the city, in the airport, train and bus stations and in some hotel and restaurant lobbies.

ATM and Debit card usage 

Travelers Checks

Due to a practice of steeling credit card numbers, is it NOT recommended that you use credit cards at small restaurants, cafes or shops. Some restaurants are now using portable credit card terminals that the server brings to the table.

 

Taxis usually do not accept credit cards unless arranged in advance by telephoning the taxi company dispatcher. 

more info on taxis and problems with taxis

 

Simple conversions of currency for comparison purposes may be done by access the following link:

The official exchange rate for most world currencies against the Latvian LAT may be found at the LATVIJAS Bank website

 

Opening a bank account in a Latvian Bank

 

Automatic Teller Machines (ATM) and Debit Card bank money machines are in many locations around the city. Some are in secure locations and some are not. It is recommended that you take precautions when using ATM machines on very crowed streets or after dark  ATM machines operate on the common International systems such as PLUS, CIRRUS, STAR. There most likely will be a service charge by the local bank and by your home bank for most transactions. The daily limit in Latvia for cash withdrawals may be lower than the daily limit from your bank. The ATM machines only use a 4 numerical digit pass code.

Travelers Checks are not commonly used in Latvia is NOT common and not accepted by most merchants. There is a 4% service charge for cashing travelers checks by local banks and only during bank business hours. more info

Be aware that United States Currency must be absolutely clean of foreign marks or there will be a 4% service charge for conversion. This includes handwriting, ink stamps, ink spots, tears and/or other marks of any kind.

 

       

 

 

 

 

 

 

Copyright 2002 - 2005 Patricia LTD, Riga Latvia - last revised 27 October 2005

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