Romanian leu continues on the downturn, to 3.76 per euro

The national currency began the day close to where it remained Wednesday evening, around 3.75 lei per euro, afterwards slipping to 3.76, although analysts expect the Paulson plan acceptance to calm the market.

Around 11 a.m., the banks were buying an euro for 3.76 lei and selling it for 3.7660 lei.

"The leu might go beyond the 3.76 quota, but I expect it to make a comeback later on. The exchange rate will probably wave between 3.73 and 3.76 lei per euro," deems Florin Bota, Banca Transilvania dealer.

On international markets, the U.S. dollar kept rising from 1.4030 against the euro to 1.3857 and at 11 a.m. Romanian time, the euro stood at 1.3890 dollars.

The American Senate approved the Paulson plan by three quarters of the votes and the bill intended to stabilize the economic system is going back to the House of Representatives for a final second vote, after the first was a negative one.

Interbank interests for overnight deposits maintain high, at 13.5-14 percent a year, above the key interest rate of 10.25 percent, on lack of liquidity on the market.

NewsIn