Father of Latvian currency to resign

LATVIA - The father of Latvia's national currency will resign as head of the central bank on 30 November, but analysts and officials expect him to leave a legacy of stability and a well-run Bank of Latvia.

It had been expected that Bank of Latvia Governor Einars Repse would quit after announcing in August he might lead a new right-wing political party being formed ahead of next year's elections, but Tuesday was the first mention of an exact date.

"The bank president will submit his resignation