Country and Pick Number: Latvia ; Pick P- 20
First year of issue: 1934
Denomination and currency: 50 Latu
Issue type: circulated
Signature(s): A.Karklins; K.Vanags
Description of paper money: Banknote 1934; Blue. Prime Minister K. Ulmanis at right.
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On August 3 1922 Lats became the official currency. Without taking the loans from abroad Latvia managed to stabilize its currency in short time. On September 19 the Latvian State Bank was founded to issue the new currency. Most Latvian paper lats were made in UK, only in 1939 100 Lats banknote was printed in Latvia. Designed by Rihards Zariņš the Latvian paper money was one of the most beautiful in Europe.
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