Latvia as its currency since 1 January 2014, replacing the Latvian lats. The name "Latvija" is derived from the name of the ancient Latgalians, one of four Indo-European Baltic tribes (along with Couronians, Selonians and Semigallians), which formed the ethnic core of modern Latvians together with the Finnic Livonians. Henry of Latvia coined the latinisations of the country's name, "Lettigallia" and "Lethia", both derived from the Latgalians. The terms inspired the variations on the country's name in Romance languages from "Letonia" and in several Germanic languages from "Lettland". Around 3000 BC, the proto-Baltic ancestors of the Latvian people settled on the
Mark (currency) policy was not re-established, and the continuing loose money policy resulted in inflation, and in 1923, in hyperinflation. In late 1923, when the paper mark had become virtually worthless, it was replaced by a new currency, the (worth ). The new currency was issued by the newly established as credit to borrowers, but requiring collateral in the form of first-class claims to real estate. In 1924, the stopped providing unrestricted credit against worthless financial bills, and pegged its new currency, the , to the stable . The rationed its lending, so that the remained at par with the stable .