Foreign Exchange Guide to Latvia
In this guide we review :
- Latvian lats info - general info about the Latvian lats
- Buying Latvian lats cash online - travel money for Latvia
- Sending money to Latvia - save on Latvian lats bank transfers to Latvia
- Latvian lats exchange rates - latest info & charts.
Latvian lats (LVL) general currency information
Latvia Trip Checklist
Travel money for Latvia
Save money and time by Ordering your Latvian lats online from Travelex, you get better rates and can pick up the LVL cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Latvian lats otherwise you may get much worst exchange rates.
Sending money to Latvia
The past decade has been a turbulent period for the Latvian economy. From acquiring double digit growth figures before 2008, the country has first experienced a double digit drop in GDP before rebounding to a healthier economy and more focus on socioeconomic challenges.
When sending money to Latvia it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Latvian lats amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted LVL amount will be transfered to the recipient account you specify in Latvia.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Latvian lats deposited into the recipient bank account in Latvia and less margins and fees kept by the banks!