Romania's national currency, the leu, appreciated to around 3.75 versus the single European currency on opening, in line with a regional trend and underpinned by the G7 action plan, which lowered the risk aversion on the market.
- Publicitate -
The finance ministers and central bank governors of the seven industrialized nations (G7) met in Washington on October 10 and adopted a five-point action plan to prevent the bankruptcy of any major bank in order to limit the effect of the crisis.
The leu surged from 3.80 to below 3.74 against the euro this morning, but then shifted back to 3.75 – 3.76 lei per euro. At 10:50 a.m., the euro was traded at 3.7530 – 3.7580 lei.
In the region, the Polish zloty grew to below 3.54 versus the euro and the Hungarian forint gained ground to 251.8 against the single European currency.
The Bucharest Stock Exchange (BSE) also gained from the wave of optimism that followed the G7 plan, with the financial companies hiking almost 13 percent at rising bell.
On international markets, the American currency depreciated to more than 1.36 against the euro. At 10:50 a.m. Romania's hour, the euro was traded at 1.3634 dollars.
Interbank interests for overnight deposits maintained a high level of 12 – 14 percent per year, above the monetary policy rate of 10.25 percent.
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