Bank of Latvia

Brief History

The bank was originally founded in 1922. However, prior to the declaration of independence from the former Soviet Union, which occurred in August 1991, the bank was re-established on 31 July 1990. The Bank of Latvia performs the full functions of the central bank, and its main objective is to maintain price stability. The bank does not perform any commercial functions. On 1 May 2004, the Bank of Latvia became part of the European System of Central Banks (ESCB) and, on 1 January

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