This research paper focuses on the challenges and opportunities of the European currency – the Euro, and how a country's currency's value may influence the economic processes, such as inflation, exports and overall wealth of the country's inhabitants, in the case of Latvia. The authors analysed that as the national currency lost its value, so did the country's consumer price index or CPI, while an increase in currency’s value showed an increased CPI. An opposite effect can be seen when analysing net exports – a decrease in the national currency’s value creates a bigger demand for the country’s goods, thus boosting exports, with the opposite being true for imports. The study’s survey provided great insight into currency users' minds and ideas about the usage of an international currency, with most of the respondents admitting that the transition to the widely used euro gave them many advantages and opportunities, and mostly helped Latvia’s economy and well-being. This study concludes that the national currency is an invaluable aspect of not only a country’s economy but also its culture, and history. The paper suggests that before any changes are made, the institutions in charge must analyse and cooperate with the country’s inhabitants to change the future of the country for the better. The study also deduced that the general knowledge of the digital euro is insufficient for successful implementation in the future. The paper may be used as a basis for future research regarding national and digital currency and their effects on society’s welfare.