On March 2, 1990, the Supreme Council of the Latvian SSR passed the Resolution "On the Bank of Latvia". It stipulated that the Bank of Latvia, a local central bank, was established (actually restored) in the Latvian SSR. This was a central bank - an independent state bank, which had the exclusive right to issue the national currency. However, it was only after the declaration of independence of the Republic of Latvia on May 4, 1990 and the collapse of the USSR that in accordance with the Resolution of the Supreme Council of the Republic of Latvia "On Reorganization of Banks in the Territory of the Republic of Latvia" passed on September 3, 1991 the Bank of Latvia became a central bank with the right to issue the national currency. The Republic of Latvia Laws "On Banks" and "On the Bank of Latvia" reinforced the status of the Bank of Latvia as a central bank with whom the right to issue the national currency had been vested.
On July 31, 1990, the Supreme Council of the Republic of Latvia passed the Resolution "On Program of Creating Republic of Latvia Monetary System". The Bank of Latvia commenced the restoration of the national currency. The Monetary Reform Committee of the Republic of Latvia was established, and on May 4, 1992, it passed the resolution on introducing the temporary currency - the Latvian ruble. The national currency - the lats - was introduced in 1993.
1992 | |||||||
May 4
May 7 May 19 July 6 July 13
August 31
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1993 | |||||||
February 12 The Currency Reform Committee of the Republic of Latvia passed Resolution No 5 "On Issuing the 5-Lats Note". March 5
March 16
March 25 April 15 April 22
June 28 September 14 October 18 |
1998 | |||
July 16
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