Latvijas Bankas (Bank of Latvia)
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The Bank of Latvia is the Central Bank of Latvia. The Constituency Assembly in the country adopted the law for foundation of the Bank of Latvia in the year 1922. Since then the bank has been operating with an objective of regulating currency in circulation by implementing a suitable monetary policy.
Important functions of the bank is as follows:
The Bank of Latvia is the Central Bank of Latvia. The Constituency Assembly in the country adopted the law for foundation of the Bank of Latvia in the year 1922. Since then the bank has been operating with an objective of regulating currency in circulation by implementing a suitable monetary policy.
Important functions of the bank is as follows:
- Issuing the currency
- Implementing the suitable monetary policy
- Managing the country’s Foreign Exchange Reserves
- Acting as a financial advisor to the Government
- Making overall economic development in the country
The bank is an independent body being free from the interference of the Government and other Organizations.
A Council and a Board govern the bank as to the law. The Council consists of eight members: the Governor, the Deputy Governor and six members of the Council and the Governor heads the council. The Council is responsible for constituting the Board. The Board has a total number of six members. The Board is responsible for executing the practical work and ensuring efficient management of the Bank.
The Address and Contact details of the bank is as follows:
Bank of Lativa
Address: K. Valdemara iela 2A LV-1050 Riga LATVIA
Phone No.: ++371-7-02 23 00
Fax: ++371-7-02 24 20
