Romania’s leu falls to 3.56 versus the euro in line with drop of currencies in the region

Joi, 28 August 2008, 00:00

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Romania’s national currency, the leu, depreciated this morning to 3.5670 versus the euro following regional trend that affected emergent currencies too, despite high interests on the interbank market.

The leu stood at 3.5412 this morning and then fell constantly to 3.5669 against the euro. After 11:00 this morning it reversed trend and began to slightly advance. At 11:15 banks were buying the euro for 3.5570 and selling it for 3.5620 lei.

The leu fell in line with the Polish zloty and the Hungarian forint while the American dollar waved against the euro, the chief dealer of Banca Transilvania, Ioan Birle said.

The zloty fell versus the euro from 3.3264 to 3.3544 and the forint slid from 235.96 to 237.78.

On the international markets the American dollar oscillated around 1.4713 and 1.4807 versus the euro and at 11:15, Romania’s hour, the euro was trading at 1.4770 dollars.

Interbank interests for overnight deposits reached 12.90 – 13.40 percent, over the monetary policy rate of 10.25 percent because of liquidity shortage on the market.

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