Latvian cbank sells $57m for Euros last week

Latvia’s central bank said it sold 28.3m lati ($57m) for euros last week. The bank announced the transaction on its Web site today without providing further details. Latvia, like neighboring Lithuania and Estonia, is a member of the pre-euro exchange-rate mechanism and pegs the lats to Europe’s common currency. Latvia keeps the exchange rate within a 1 per cent band around a target.