High foreign currency demand shrinks the leu to over 3.68 versus the euro

Joi, 25 Septembrie 2008, 00:00

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The national currency remained this morning around the same quota as last night, of over 3.68 per euro, on a mild downturn due to the high demand for foreign currencies, on regional trend.

After a slight decrease at the opening bell from 3.6750 to 3.6875 per euro, the leu recovered somewhat and at 11.00 a.m. the banks were buying an euro for 3.6820 lei and selling it for 3.6870 lei.

The Polish zloty stood at 3.3320 against the euro, after it had dropped to 3.335 per euro. The forint came back to the opening standing of approximately 240.5 per euro, after it had slipped to 241.46 versus the euro.

The U.S. dollar kept bending before the euro from 1.4605 to 1.4768 per euro. At 11.00 a.m. Romania's time, the dollar had hardly restored and the euro was traded for 1.4704 dollars.

Interbank interests for overnight deposits remained as high as 12.5-13 percent a year, considerably above the key interest rate of 10.25 percent.

Players are waiting for the central bank board meeting in Cluj today to establish a new monetary strategy, most analysts seeing the key interest rate stay where it is, at 10.25 percent a year.

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