Romania’s national currency the leu recovered this morning after yesterday’s drop and increased to 3.5650 versus the single European currency after high interbank rates spurred investors’ interest.
- Publicitate -
The leu fell slightly early today from 3.5690 to 3.5850 versus the euro in line with the evolution of other currencies in the region and then regained the lost ground.
Investors focused more on the American dollar which started to appreciate today, mostly as an effect of the armed conflict in Georgia, according to dealer with Banca Comerciala Romana (BCR) Narcis Noaghea.
On the international markets the dollar climbed to a six-month peak of 1.4814 versus the euro but then slipped a bit. At 11:15, Romania’s hour, the euro was trading at 1.49 dollars.
Interbank interests for overnight deposits remained at a high level of 16-16.5 percent per year, way above the monetary policy rate of 10.25 percent because of insufficient liquidity on the monetary market.
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