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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.
The dollar replaced the South African rand, which had been the country's currency while it was under South African rule as South-West Africa 1920-1990. The rand is still legal tender, as the Namibian dollar is linked to the South African rand and can be exchanged on a one-to-one basis locally.
1 LVL = 14.5577 NAD
Latvian LatsNamibian Dollar