What Currency to Carry When Studying in Latvia A Guide for Indian Students

Studying abroad is an exciting opportunity, but it also has some practical issues to consider, especially when it comes to finance and foreign exchange. For Indian students wishing to study in Latvia, it is crucial to understand the currency and how to handle the money during the stay in abroad.

At Orient Exchange, we’re here to guide you through the currency requirements and provide you with secure, hassle-free solutions to ensure your journey to Latvia is smooth and well-prepared.

Understanding Latvia’s Official Currency

Latvia's part of the European Union, so they use the Euro (EUR). They switched over way back on January 1, 2014. Forget about those old Latvian Lats (LVL) – Euros are the only game in town for everything, from school fees to your daily coffee.

If you intend to buy Latvian currency (LVL) in India, it is important to know that LVL is now obsolete and completely out of circulation. Indian students must, thus, plan on taking Euros (EUR) with them while heading to Latvia.

Can You Buy Latvian Lats (LVL) in India?

No. The Latvian Lats (LVL) isn't available in India—or anywhere else—as it has been fully replaced via the Euro. If you locate dealers presenting LVL, it's not usable. It’s best to convert INR to Euro (EUR) earlier than your departure to Latvia.

Orient Exchange offers dependable Euro currency exchange services in India, making it smooth for students to get Euros at competitive prices.

Why You Should Convert INR to EUR Before Travel

Getting your Euros sorted in India before you leave is the smart move. Here's why:

Better Deals: You'll usually get better exchange rates at Currency Exchange service provider rather than airport.

Skip Airport Rip-Offs: Airport exchange places are known for high fees.

Emergency Readiness: Having some cash in Euros on hand ensures you’re prepared for initial expenses like airport transfers, food, or hotel stays.

Smooth On-boarding at University: You may need to pay certain fees or deposits immediately after arrival.

By converting INR to EUR in India with Orient Exchange, you ensure a transparent and regulated transaction through an RBI-authorized forex dealer.

How Much Currency Can You Carry Legally from India?

According to RBI regulations, Indian students can carry up to USD 3,000 cash or its equivalent in foreign currency while traveling abroad in physical cash. However, the total foreign exchange limit for education purposes under the Liberalised Remittance Scheme (LRS) is up to USD 250,000 per financial year per individual.

This amount can be used for:

• Tuition fees
• Living expenses
• Accommodation
• Travel
• Insurance
• Miscellaneous expenses

Orient Exchange can help you transfer tuition fees directly to Latvian universities and also guide you on how to carry permissible foreign currency in various formats, such as Forex Cards and Wire Transfers.

Where to Buy Euros in India?

When it comes to purchasing foreign currency in India, you must choose a licensed and trustworthy source.

Orient Exchange is one of India’s most reputable and RBI-authorized foreign exchange dealers, with a strong presence across major cities. Here’s why students and parents prefer buying Euros from Orient Exchange:

• Live exchange rates with zero hidden charges
• Home delivery of currency and forex cards
• Online booking with doorstep delivery
• Student-friendly support and educational forex packages

You can also book Euros online through our website or visit one of our branches to complete the transaction quickly and securely.

Best Ways to Carry Euros from India

Carrying Euros safely and wisely is key to managing your expenses in Latvia. Here are the most recommended ways to do so:

1. Forex Card (Prepaid Travel Card)

• Load in EUR before departure
• Safer than cash
• Easy ATM access abroad
• Accepted widely for POS and online payments
• Can be reloaded by parents from India

2. Cash (for initial use)

• Carry some amount in cash for immediate expenses upon arrival
• Use wisely for taxi fares, groceries, or accommodation deposits
• At Orient Exchange, we recommend combining Forex Cards + Cash in Euros for maximum flexibility, security, and convenience.

Using Forex Cards in Latvia

Forex cards are ideal for Indian students studying in Latvia. They work just like debit cards, except they’re preloaded with Euros and offer greater control over your budget.

Advantages of Forex Cards:

• Lock-in exchange rates at the time of purchase
• No currency fluctuation impact
• Low ATM withdrawal charges
• Can be blocked immediately if lost or stolen
• Reloadable from India by parents via Orient Exchange

Orient Exchange offers multi-currency Forex Cards that are secure, easy to manage, and accepted widely across Latvia and Europe.

Send Money to Latvian Universities

Paying tuition fees or accommodation costs to Latvian universities is a crucial part of the preparation process. At Orient Exchange, we facilitate secure international remittances directly to educational institutions in Latvia.

Benefits:

• RBI-compliant and transparent transactions
• Competitive transfer rates with low fees
• Fast processing time
• Documentation assistance

You can pay:

• Tuition Fees
• Hostel/Accommodation Fees
• Visa Fee Payments
• University Registration Charges

Simply provide us with the university's bank details and supporting documents, and our team will take care of the rest.

Conclusion

When preparing to study in Latvia, Euros (EUR) are the only acceptable and usable currency. As an Indian student, managing your foreign exchange wisely is the first step toward a smooth international journey.

With Orient Exchange, you can:

Buy Euros at the best rates
Use secure Forex Cards
Remit tuition fees to Latvian universities
Get expert forex advice tailored for students