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Interbank rates rise in Latvia and Lithuania

Oct 07, 1999

Interest rates rose sharply on the Latvian and Lithuanian interbank markets this week while rates in Estonia remained unchanged. Experts from the three Baltic states pointed to a surplus of funds on the interbank financial markets. The reason for the rise is that most of the market participants do not want to lend money in the local markets at this time.Interest rates rose the most in Lithuania, with daily rates reaching 16 percent per annum and semiannual interbank credits being offered at an a ...

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