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Lat will not be devalued

Aug 26, 1999

RIGA - Latvian bankers have denied any threat to the lat, the Latvian currency, despite the temporary currency crisis which took place Aug. 16, when no U.S. dollars could be bought in any Ventspils currency outlets by the day's end. Currency dealers ran out of dollars by early afternoon, the daily Neatkariga Rita Avize reported.The crisis broke out after Ventspils Mayor Aivars Lembergs allegedly ordered to keep all uncommitted municipal funds in U.S. dollars."The current economic situation in th ...

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