Latvian rublis 1 Rublis, 2 and 5 Rubļi, 10, 20, 50, 200 and 500 Rubļu. This second Latvian rublis was withdrawn from circulation on 18 October 1993, but could be exchanged for lats until 1 July 1994, when it lost validity. and the historic national currency - the "lats" - was reintroduced in 1993, replacing the Rublis at the ratio of 1 lats = 200 Rubļu. The lats was replaced on 1 January 2014 by the Euro, at the rate of 0.702804 Lats to 1 Euro. Latvian rublis The Latvian rublis () was the currency of Latvia from 1919 to 1922 and
World currency to the United States dollar. However, as the United States has the world's largest economy, most international transactions continue to be conducted with the United States dollar, and it has remained the "de facto" world currency. According to Robert Gilpin in "Global Political Economy: Understanding the International Economic Order" (2001): "Somewhere between 40 and 60 percent of international financial transactions are denominated in dollars. For decades the dollar has also been the world's principal reserve currency; in 1996, the dollar accounted for approximately two-thirds of the world's foreign exchange reserves", as compared to about one-quarter held in euros (see Reserve