Lithuanian cbank okays draft bill for litas repeg

- Central Banking staff
- 25 Jan 2001

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Lithuania's central bank said on Jan. 25, 2001, its board approved a draft amendment to law aimed at clearing the path for a shift in the litas currency's peg to the euro from the dollar without devaluation."The main goal of this amendment is to ... give Lithuania the opportunity to choose the euro as an anchor currency and to do this process without devaluation or revaluation of the litas," the bank said in a statement.

The Bank of Lithuania is looking to shift the peg on or about one month

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