The coin is the first 2-euro commemorative coin the bank has produced since Latvia joined the eurozone on January 1, 2014 and is legal tender throughout the single currency bloc.
One million of the coins will be put into circulation just like other coins and the cashier offices of LB in Riga, Daugavpils and Liepāja will start selling the coin on Tuesday, 12 August.
The graphic design, depicting the distinctive Riga skyline was created by Henrihs Vorkals, and minted in Germany by Staatliche Münzen Baden-Württemberg, which mints all of Latvia's euro circulation coinage.
"By issuing this coin of special design Latvijas Banka has made an important contribution to the popularisation of the event in Latvia and abroad," LB said.
Riga's Capital of Culture tenure has four and a half months left to run, finishing at the end of the year.
Each country in the euro area is entitled to issue two commemorative coins per year. Latvia's next 2-euro commemorative coins of special design are projected for 2015.