History of Latvia forests were another export revenue source. On March 27, 1919 the Latvian rublis was introduced with an exchange rate of 1 Latvian rublis equal to 1 ostruble, 2 German marks and 1,5 czar rubles. On March 18, 1920 Latvian rublis was made the only legal currency. Due to high inflation, the new Latvian lats currency was introduced at a rate 1 lat to 50 rublis. In 1923 the Bank of Latvia was established and lats replaced rublis in 1925. Between 1923 and 1930 state budget was with a surplus. On average 25,5% went to defense, 11,2% to education and 23,4%
Multi-currency pricing Multi-currency pricing Multi-currency pricing (MCP) is a financial service which allows businesses to price goods and services in a variety of foreign currencies, while continuing to receive settlement and reporting in their home currency. With MCP, merchants can sell the same item to British customers in pounds sterling, French and German customers in Euros, and Japanese customers in Yen. A sales tool that helps merchants expand into other sectors of the global marketplace, MCP allows cardholders to shop, view prices and pay in the currency of their choice. Currently this feature is available for Visa and MasterCard networks only. For