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The sheqel has been a freely convertible currency since January 1, 2003. The currency is not produced in Israel, as the country has no mint. Instead banknotes are imported by air and coins by sea.
Latvia had originally planned to adopt the euro as its official currency in 2008. It is now expected that Latvia will introduce the euro in 2012 at the earliest although 2013 may be a more realistic date. The Lat is pegged to the Euro at a rate of 1 LVL = 1.4229 EUR.
1 ILS = 0.1431 LVL
Israeli SheqelLatvian Lats
