Romania’s leu parks at 4.3050 over the euro allegedly helped by the central bank

The national currency was pinned at 4.3050 against the single European currency after it had fallen significantly this morning on a volatile market where the central bank BNR allegedly stepped in.

The leu started the day at 4.29 over the euro, but then dropped to 4.3220 over the euro only to recover to 4.30. At 10:20 banks were buying the euro for 4.3050 lei and selling it for 4.3150 lei.

Volatility on the market is pretty high and the leu was carried away this morning by the regional flow, chief of treasury with Volksbank Romania Ciprian Mihai said. The leu’s recovery can be put down to the central bank’s indirect intervention on the market, he added.

Emergent currencies in the region waved significantly with the Hungarian forint losing ground from 298.75 to 299.25 and the Polish zloty falling from 4.4550 to 4.4650 over the euro.

On the international markets the American dollar advanced constantly from 1.2875 to 1.27 versus the euro. At 10:20, Romanian time, the euro traded at 1.2722 dollars.

Interbank interests for overnight deposits stood at 14-15 percent per year above the main annual interest rate of 10.25 percent.