According to the Constitution (Satversme), Latvia is a parliamentary republic in which the sovereign power belongs to the people, who are represented by a unicameral parliament (Saeima), with 100 members elected in general, equal, direct, secret and proportional elections for a four-year period.
he official currency of the Latvian Government is the Latvian LAT. There are three abbreviations that are commonly used. They are (LS), (LVL) and sometime (LAT or LATS).
The Euro is used for hotel, apartment and real estate pricing and for most apartment rental transactions. The US Dollar is being used less and less.
Latvia is situated on the eastern shore of the Baltic sea, sharing borders with Lithuania to the south, Estonia to the north, Russia to the east and Belarus to the southeast.