Euro gains popularity in the Baltics

Feb 25, 1999
Anastasia Styopina

RIGA - A month after the new European currency was introduced, the Baltic countries recorded increases of euro-denominated deposits, loans and currency transactions.As the three Baltic states have set their goals to join the European Union, it is expected that the euro might substantially decrease the role of the U.S. dollar in these countries' economies.The euro has entered the Baltic markets through trade with the EU, which is a major export partner for Estonia, Latvia and Lithuania. As trade ...

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