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Bank of Latvia releases new 10-lat banknote

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The Bank of Latvia is to release a new 10-lat banknote on Oct. 1. It looks the same as those already in circulation, but has improved anti-counterfeiting elements.

Andris Straumanis

September 30, 2008

A new 10-lat banknote that looks essentially the same as those already in circulation, but with better protection against counterfeiting, is to be released Oct. 1 by the Bank of Latvia.

The anti-counterfeiting elements already are used in the latest 5-lat and 20-lat notes, according to a Sept. 30 press release from the central bank. The front of the new 10-lat note includes two “10” symbols imprinted in relief above the translucent oak leaf. Also on the front, the large “10” is printed with a special ink that gives the illusion of changing colors when the bill is held at different angles.

The need for the new 10-lat note was driven by demand for the currency, according to the press release. Due to normal wear and tear, the average lifespan of a 10-lat note is 1.6 years. Last year alone the central bank removed from circulation and destroyed 4.6 million 10-lat notes.

The new notes were printed by Giesecke & Devrient, the same German company that has printed other Latvian banknotes.

Holders of earlier 10-lat banknotes issued in 1992 or 2000 may continue to use them as they remain legal tender.

Andris Straumanis is editor of Latvians Online.

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