Latvia bought 1.8 mln lati last week
26.10.2009, 11:46Latvia’s central bank bought 1.8 million lati for euros last week after the currency weakened, Bloomberg reports.
The bank announced last week’s purchase on its Web site today without providing further details. Latvia, like neighboring Lithuania and Estonia, is a member of the pre-euro exchange-rate mechanism and pegs the lats to the 27-nation bloc’s common currency. Latvia keeps the exchange rate within a 1 percent band around a target.