After the restoration of independence a monetary reform was carried out: from 5 March 1993 the temporary money, the Latvian rouble, was gradually replaced by the lats, and in 2014 Latvia adopted the single currency of the European Union, the euro. Lats are exchanged for euro at the rate set by the Council of the European Union — 0.702804 lats to the euro — at the Cashier's Office of Latvijas Banka. The lats banknotes were printed in 1992 by Giesecke & Devrient GmbH (Germany); the artists were Imants Žodžiks and Valdis Ošiņš. This denomination was reprinted in 1992, 1996, 2001, 2006, 2007, 2009, and the present sheet belongs to the 2007 printing — the year stands on the back beneath the greater coat of arms of Latvia.

On the face, against a background of «little suns» ornament, an oak tree and a stylised oak leaf that completes into a whole image when held to the light. Along the top runs LATVIJAS BANKAS NAUDAS ZĪME in two colours with the red serial number below it; along the bottom, the denomination in words, LATVIJAS BANKA, the facsimile signature of the bank's President and the black serial number. On the right is a vertical ornamental band with the Lielvārde belt motif and the numeral of the denomination. On the back, against a distaff motif, a sun ornament carved in wood; on the left a metallised stripe embedded in the paper, on the right a stylised oak leaf, and at the right edge, on a white field, the greater coat of arms of Latvia with the year of printing beneath it. Along the left band, on a white field, runs the vertical legend © LATVIJAS BANKA 1992.

A banknote of the lats, the national currency of the Republic of Latvia. The most interesting security features are watermark — the profile of a Latvian girl in folk costume, see-through feature — a stylised oak leaf and a mark for the blind on the white field at the left — a single raised green dot.

Collector interest in the lats rests on condition and on the difference between printings: a denomination has one design, and the years differ in the set of security features. F-VF condition lies between F and VF: the note has been through circulation and shows several folds and wear; minor edge defects are possible.

If this theme interests you, take a look at the other items in the VPcoins catalogue.