Latvia's 1993 coinage program was part of a rapid monetary reconstruction following the reintroduction of the lats in March 1993, replacing the transitional Latvian ruble that had itself only existed since 1992. The 2 lati denomination anchored everyday commerce almost immediately, as the lats was pegged to the IMF's Special Drawing Rights basket — an unusually technocratic choice for a newly independent state still building its central banking infrastructure from scratch.
Latvia's 1993 coinage program was part of a rapid monetary reconstruction following the reintroduction of the lats in March 1993, replacing the transitional Latvian ruble that had itself only existed since 1992. The 2 lati denomination anchored everyday commerce almost immediately, as the lats was pegged to the IMF's Special Drawing Rights basket — an unusually technocratic choice for a newly independent state still building its central banking infrastructure from scratch.