Romania’s leu rises to 3.53 versus the euro on regional tendency

Romania’s national currency, the leu, advanced this morning to 3.53 versus the euro on regional tendency stimulated by the evolution of the euro/American dollar exchange rate, dealers said.

The leu suddenly increased from 3.5470 versus the single European currency, to 3.53 and then started to fluctuate. At 10:40 banks were buying the euro for 3.5309 lei and selling it for 3.5371 lei.

The leu’s appreciation stemmed from the slight recovery of the euro/dollar rate, dealer with the largest bank by assets Banca Comerciala Romana (BCR) Narcis Noaghea said. "However, the leu is growing the most out of all the emergent currencies, probably an effect of the high interests on the market," he added.

The Hungarian forint rose from 239.35 versus the euro to 238.10, the Polish zloty advanced from 3.3340 to 3.3222, but then lost ground to 3.3280 versus the euro.

Players on the market keep an eye on the evolution of events in Georgia, Noaghea said, adding that the dollar’s evolution is more likely to influence emergent currencies.

On the international markets the dollar dropped slightly against the euro after hitting a six-month peak, to 1.4654. At 10:40, Romania’s hour, the euro traded at 1.4752 dollars.

Interbank interests for overnight deposits stood high at 11-12 percent over the monetary policy rate of 10.25 percent, players pending the central bank’s weekly bid for deposits.

NewsIn