EUR/LVL de-peg rumour

[Directional]

I've hear a rumour that the Latvian government will be de-pegging the Lat from its 0.7 EUR peg tomorrow. Anyone on currency circles heard anything about this? I couldnt find anything on the wires, and as early as last week the government was saying they would defend the peg

 

[GammaJammer]

Sorry matey - just seen. Rumour been on and off for a few weeks now. I thought you started it tbh

The govt are meeting today to finalise their package of budget savings as far as I was aware. This in turn is meant to be paving the way for access to IMF funding. And afaik they were in last week in reasonable size buying Euros. Seen nothing specific today about them de-pegging but will shout if I do.

GJ

 

[Martinghoul]

Last I heard there's a govt budget initiative that's come out in the papers over the w/e. If it goes through, the way can be paved for the IMF. Voting on the plan is scheduled for tomorrow or Wednesday. De-pegging is off the table for the moment, from what I am being told by the salespeeps in Sweden.

 

[GammaJammer]

That's about the long and the short of it....