Latvian rublis printed quite similar notes but with different signatures on them. This government recognized the previously printed banknotes as legal tender. The designer of these banknotes was Jūlijs Madernieks. On 3 August 1922, the Cabinet of Ministers approved the "Regulations on Money" which introduced the "lats" as Latvia's national currency. The lats was equal to 50 rubļi. The rublis remained in circulation alongside the lats for a time. Latvia's regained independence was recognized by the Soviet Union on 6 September 1991. In the first four months of 1992, the country was adversely affected by inflation of the Soviet ruble. In addition,
Currency intervention manipulations. As the financial crisis of 2007–08 hit Switzerland, the Swiss franc appreciated "owing to a flight to safety and to the repayment of Swiss franc liabilities funding carry trades in high yielding currencies." On March 12, 2009, the Swiss National Bank (SNB) announced that it intended to buy foreign exchange to prevent the Swiss franc from further appreciation. Affected by the SNB purchase of euros and US dollars, the Swiss franc weakened from 1.48 against the euro to 1.52 in a single day. At the end of 2009, the currency risk seemed to be solved; the SNB changed its