On 6 November, the Bank of Latvia issued a new special 1-lats circulation coin, the Parity Coin, featuring the exchange rate of the lats to the euro on the reverse. It is legal tender in the Republic of Latvia. These coins will be put into circulation like any other circulation money, reaching commercial and other enterprises as well as population through banks.

The coin has been designed by Ilmārs Blumbergs and modelled by Jānis Strupulis. The new 1-lats coins are struck at Münze Österreich (Austria).

The Bank of Latvia commenced minting special 1-lats circulation coins 12 years ago, and the Parity Coin concludes the cycle. As of 1 January 2014, Latvia will introduce the euro and become a fully-fledged member of the Economic and Monetary Union; nevertheless, the tradition to issue special circulation coins will continue. A coin with an image of a stork opened the series, and since 2004 a new coin to mark a special occasion has been put into circulation twice a year. The Parity Coin is the 23rd special 1-lats circulation coin.

The central motif of the Parity Coin resembles a tree trunk keeping roots and branches, the earth and the sky together. It symbolises a road leading to new challenges, dreams and opportunities.

The reverse of the new 1-lats coin shows a symmetrical mirror image of numeral "1", a component of the inscription "1 LATS" and "1,42 EIRO". The obverse displays the number 2013, the year of minting, below the coat of arms of the Republic of Latvia. In terms of edge, size, metal or weight, there are no other distinctive features between the new coin and its other 1-lats circulation counterparts.

The total circulation of the coin is 500 000, and, like all other special 1-lats circulation coins, it will not be supplemented.

Source of information: Bank of Latvia www.bank.lv