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Latvia replaced its previous currency, the lats, with the euro on 1 January 2014, after a European Union assessment in June 2013 asserted that the country had met all convergence criteria necessary for euro adoption. The adoption process began 1 May 2004, when Latvia joined the European Union, entering the EU's Economic and Monetary Union. At the start of 2005, the lats was pegged to the euro at L... Wikipedia