lats
Noun
Meaning
the basic unit of money in Latvia
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After Western countries abandoned the gold standard, the Latvian lats was pegged to the British pound in September 1936.
National income was 444 lats per capita in 1933 and reached 637 lats per capita in 1938, thus finally overtaking the 1929 levels.
By 1937 Latvia had paid the full amount of 5 million golden lats.
Due to high inflation, the new Latvian lats currency was introduced at a rate 1 lat to 50 rublis.
The national income fell from 600 lats per capita in 1930 to 390 lats per capita in 1932.