The leu surged in initial transactions up to 3.79 per euro, possibly owing to an indirect intervention of the central bank, but later on reversed, following the regional trend.
- Publicitate -
The national currency began the day at 3.8375 versus the euro, slightly below where it ended the previous session, but then swelled briefly to 3.7903, only to reverse by 10.40, when banks were buying an euro for 3.8020 lei and selling it for 3.8110 lei.
"The sudden morning rise mimicked the regional trend, but was also an effect of high interbank interests," reckons Monica Angelescu, Volksbank Romania chief interbank transactor. She added that we may see a direct intervention of the central bank should the leu hit an abrupt slope.
The neighboring emergent currencies went along the same lines. The Hungarian forint towered to 263 versus the euro and then descended below the initial 272.83 to 268.3 per euro. The Polish zloty climbed from 3.6236 per euro to 3.5515 and then lingered around the same quota.
On international markets, the U.S. dollar rose initially from 1.3517 to 1.3347 per euro and then wavered around 1.34 per euro. At 10:40 Romanian time, the euro stood at 1.3417 dollars.
Interbank interests increased to 16 percent a year, way above the key interest rate of 10.25 percent.
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