For four years, since Latvia became a country, it had no official currency of its own. Even though the lati was introduced in 1922 as official currency, it did not become official until 1924 after Latvia temporarily used the Latvian ruble. From 1918 until 1922 Latvia's monetary state was in chaos over using the Russian Czarist rubles and German Ostmarks at the same time. Finance Minister Ringgold's Kalniņš was encouraged by Isidor Friedman to remove the treasury notes to use the state gold fund to fund the production of the golden lati. The golden lati reserves were considered too weak. Kalniņš was fired. Soon bank notes worth 10, 20, 25,50, 100 and 500 were printed up, and silver coins worth 1,2 and five were minted. Santims made from bronze were also created with the value of 10, 20, 50. Eventually, the santims were made from nickel metal.Sweden, Latvia Poland, and Germany had used the Latvian Lati currency during World War II. At the moment 116 countries use the lati including England, Canada, the United States, Russia, and Sweden.The Latvian Lati are equal to $1.61 of the US dollar. One lat are the equivalent to the 14.45 of the Swedish Krona. One lat equal 1.33 of the British pound, 1.63 of the Swedish franc, 168.93 of the Pakistani Rupee, 0.0013-bit coin, 5.11 of the Brazilian Real, and 2.17 of the Canadian dollar.