By Aaron Eglitis
June 1 (Bloomberg) -- The Latvian central bank said it bought 95.4 million lati ($190.6 million) to support the currency last week, purchasing lati for the tenth week in a row after it weakened to its trading limit.
Last week’s purchase of lati was the biggest intervention by the central bank since the beginning of December, before Latvia agreed its 7.5 billion euro ($10.6 billion) bailout from a group led by the International Monetary Fund and the European Commission.
The lats is allowed to rise or fall 1 percent from a midpoint against the euro. The bank spent about 1 billion euros ($1.4 billion) over 11 weeks last year defending the currency before the government agreed to its bailout.
To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net
Last Updated: June 1, 2009 02:53 EDT
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