It currently has a value of ~0.12 US cents.
A dollar is a dollar even if it is only 0.77EUR. Should be the same for BTC. If mBTC (1/1000 th) is no longer used, then it will get discontinued. Just like 50 cent pieces or 2 dollars.
So what's the penny, nickles, etc equivalents of bitcoins? Make the Satoshi=100BTC?