Lithuania Pegs Litas To The Euro
NEWS
LITHUANIA -- Reinoldijus Sarkinas, governor of the Central Bank of Lithuania said last week that as of the first quarter of next year it would peg its currency, the Litas, to the euro and abandon its policy thusfar of pegging it to the dollar.
The move is believed to be in response to calls by many of the country's exporters, who have consistently argued that as most exports are to the European Union, it made more economic sense to peg the litas to the euro.
An industry analyst says the move is
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