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