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,
Baltic Way (mathematical contest) circulates among the regular participants. Baltic Way (mathematical contest) Originally, the three Baltic states participated, but the list of invitees has since grown to include all countries around the Baltic Sea; Germany sends a team representing only its northernmost parts, and Russia a team from St. Petersburg. Iceland is invited on grounds of being the first state to recognize the newfound independence of the Baltic states. Extra "guest" teams are occasionally invited at the discretion of the organizers: Israel was invited in 2001, Belarus in 2004 and 2014, Belgium in 2005, South Africa in 2011 and the Netherlands in 2015.