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human
Is currency of higher value "better" ?

Hello, I'm from Latvia and right now we're going through a process of adopting Euro, from Lats and I'm not sure how to feel about it, I've heard some articles saying that it's gonna be easier using Euro etc. and some are saying that we should stay with Lats, because it's 4th most valuable currency of Earth and we wouldn't be so dependent on EU, that for me sounds a lot better than just having Euros because it's "more convenient", because I think that if some huge banks mess up something in Italy that could affect economical situation in Latvia, right? I'm not sure, macroeconomics is not my thing.

So what do you think?
gpt
>Is currency of higher value "better" ?

No. Economists would call the exchange range a "nominal" variable that has no real consequences at a point in time. eg. If the USD is only worth .5 Latvian dollars, then this is unimportant... what is important is how this ratio changes over time, (presumably) due to real factors.

If having a "valuable" currency in this sense were important, it'd be pretty easy for governments to just manipulate this figure by redenominating the currency. It'd also generate a weird positive feedback loop where demand for currency goes up with its nominal value, which would raise its real value, which would drive up its nominal value, etc. etc..