While Latvia has been a member state of the European Union since 2004, it has not completed
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While Latvia has been a member state of the European Union since 2004, it has not completed the third stage of the European Monetary Union and therefore still uses its own currency, the Latvian lats. Visit the site of the Bank of Latvia to get more information about the current monetary policy in Latvia. How is the value of lats determined? Why?
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The value of a currency is influenced by various factors and its exchange rate is determined in the ...View the full answer
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