The Bank of Estonia on Monday denied rumours that it was set to devalue the kroon, which is pegged to the euro.
lo Kassik, the head of the economics department at the central bank, spoke out after reports appeared in the Finnish and Estonian press last week.
"The Estonian kroon is covered by foreign reserves and fears for the change of the exchange rate are unfounded," Kassik said. "We have absolutely no need to change the current policy. In addition, changing the exchange rate is almost impo