[6] The first lats (symbol: ℒ︁𝓈) was first introduced on 3 August 1922, replacing the first Latvian ruble at a rate of ℒ︁𝓈 1 = Rbls 50.

[11] Although the Soviet authorities initially pledged not to abolish the lats, it was taken out of circulation without prior warning at 13:05 on 25 March 1941, simultaneously nationalising all deposits larger than ℒ︁𝓈 1000.

The 1s, 2s and 5s were in bronze (Cu, Sn, Zn), the 10s, 20s and 50s were nickel, while coins of ℒ︁𝓈 1 and above were struck in silver, with a purity of 83,5 percent.

The lats was reintroduced on 5 March 1993,[15] replacing the Latvian ruble, which continued to circulate and kept validity until and including 30 June 1994[16] at a rate of LR 200 being equivalent to Ls 1.

The second lats can be exchanged to euros at the official rate at the Bank of Latvia's cashier's office in Riga.

They were printed by Giesecke & Devrient GmbH in Germany and were designed by Imants Žodžiks and Valdis Ošiņš.