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Lithuania to skip euro/dollar peg

Oct 21, 1999
By Peter J. Mladineo

VILNIUS - Lithuania will not repeg its currency next year to a euro/dollar basket but will instead choose a direct peg with the euro during the second half of 2001. So announced the chairman of the Bank of Lithuania on Oct. 13. Reinoldijus Sarkinas also said that a devaluation of the litas would not be on the central bank's agenda when it prepared the next three-year monetary policy program for the country, and that the currency board regime would not be changed until mid-2001, at earliest. The ...

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