RIGA - Swedish bank Swedbank is preparing itself for 15% devaluation of the lat, stated the risk manager of the bank Joran Bronner on Tuesday [20. Oct].
Although Swedbank does not have an public posture on currency devaluation in Baltic countries, it does plan its work taking such a possibility into account.
The opinion that the currency devaluation in the Baltic countries can happen in the beginning of he year 2010 does exist among the representative of the currency market in London. The devaluation of the lat is mostly going to affect private individuals. Its effect on the business is not clear.
Bronner believes, that the devaluation will lead to a new estate price rise in Latvia. Nevertheless, Swedbank forecast the stabilization of the situation in the year 2010.
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