Money, prices and costs
The currency in Latvia is the Lats, abbreviated as LVL or Ls. Existing denominations are: 1, 2, 5, 10, 20 and 50 santîms, 1, 2 Lats coins and 5, 10, 20, 50, 100, 500 Lats banknotes. The smaller unit is called santîms. 1 Lats = 100 santims.
1 EUR = 0.7 LVL approximately
1 GBP = 1 LVL approximately
1 USD = 0.54 LVL approximately
Foreign currency exchange is possible in banks, exchange offices, post offices, travel agencies, hotels, camps, marinas; cheques can be cashed in banks. Banking hours are 8 a.m. to 4 p.m. from Monday to Friday. On Saturdays most banks are closed. In the larger cities some banks are also open on Sundays. Most hotels, restaurants and shops accept credit cards (Eurocard, Mastercard, Visa, JCB, Diner's Club, American Express, and Eurocheque). Cash dispensing machines are ubiquitous. You can also use traveller's cheque (American Express or Thomas Cook) widely.
The prices in Latvia in average are even or slightly lower than in Western Europe