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Latvian Lat

  • 14-10-2010 4:24pm
    #1
    interlocked
    Registered Users, Registered Users 2 Posts: 508 ✭✭✭


    Just a quick question.

    Why is the latvian lat the only currency in Europe, apart from the UK that is worth more than a euro? In fact it is the fourth highest valued currency in the world according to this table.
    http://en.wikipedia.org/wiki/Highest-valued_currency_unit

    What is the rationale behind this?


Comments

  • #2
    dunkamania
    Closed Accounts Posts: 1,803 ✭✭✭dunkamania


    Which would you rather have,

    100 x 1 euro coins or
    1 x 100 euro note?


  • #3
    Cool Mo D
    Registered Users, Registered Users 2 Posts: 1,419 ✭✭✭Cool Mo D


    interlocked wrote: »
    Just a quick question.

    Why is the latvian lat the only currency in Europe, apart from the UK that is worth more than a euro? In fact it is the fourth highest valued currency in the world according to this table.
    http://en.wikipedia.org/wiki/Highest-valued_currency_unit

    What is the rationale behind this?

    There is no particular rationale behind it - it just is. The value of a currency unit is arbitrary. What matters is how vulnerable a currency is to losing value against other currencies.


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