2-euro coins of Latvia

Like its Baltic neighbours, Latvia spent many centuries caught between western powers and the Russian neighbour to the east. Originally part of the Teutonic Order's territory, Latvia came under the influence of Poland-Lithuania in the 16th century and was absorbed into the Russian Empire in the 18th century. The country has been independent since 1991. The Latvian capital Riga, with its historic city centre, is a UNESCO World Heritage Site.

Latvia had planned to introduce the euro in 2008 but was unable to do so due to foreseeable breaches of the convergence criteria. In 2013, Latvia finally met all the requirements, paving the way for the euro to be introduced on 1 January 2014.