Internship Experience

Investor considerations �� The monetary system is stable, and puffiness is low. �� The banking system is well real and regulated. �� The insurance industry continues to develop. �� The investment and pension funds industries argon currently underdeveloped. �� There are no restrictions on alien currency transactions, profit repatriation and transfer of funds. cashboxing system The Latvian banking system has been mark by rapid growth over recent years. The contribute assets of the 22 banks of the country and branches of foreign banks were LVL 4.4 billion at the depot of 2002. The three bigheartedst banks control approximately two-thirds of the banking market. Almost all banks are seeking to become full-service domestic banks. Some banks also actively target clients from CIS. The market is relatively saturated in conventional banking services such as account maintenance and settlements, bring and leasing, but still underdeveloped in corporate finance, asset management and other services. Central bank The Bank of Latvia is the independent important bank of Latvia. It is responsible for the development and execution of monetary policy. The Bank of Latvia has followed a tight monetary policy.

The domestic currency, the lat, is stable and the inflation rate during recent years has been around 3 % or below per annum. The exchange rate of the lat is fixed to the SDR (a basket of currencies) and has remained stable since the early 1990s. The monetary policy has followed a cultivate of intervention in the local foreign exchange market, changes in the refinancing rate for loans issued to Latvian banks and trade with debt securities issued by the government. The Bank of Latvia holds large foreign exchange currency reserves mainly in U.S. dollars and this ensures full convertibility for all lats issued. It is expected that Latvia will begin to take in euros as a domestic currency by 2008. Financial and... If you want to get a full essay, do it on our website: Orderessay

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