The leu drops anchor at 3.69 per euro, after initial slip

The national currency settled this morning around 3.69 versus the euro after slight slip during initial transactions, following the regional drift brought on by investors sealing standings in the region.

The leu began the day up from the previous session, inched above 3.67 per euro, but soon dropped to 3.7160 and then parked around 3.69 per euro. At 11:15 a.m. banks were buying an euro for 3.6925 lei and selling it for 3.6985 lei.

"The market is pretty quiet, there probably were some closings which affected not only the leu, but also the neighboring currencies," reckons Ciprian Mihai, department chief of the Volksbank Romania treasury.

Unlike the Romanian seas, the regional ones were rather rough. The Polish zloty lost ground from 3.52 versus the euro, where it had seemed stable, to 3.5271 only to come back to 3.5150 per euro. The Hungarian forint fell from 256.20 to 259 against the euro and later on returned close to the initial standing, at 257 per euro.

On international markets, the American currency increased from 1.30 to 1.28 dollars after the Democrat candidate, Barak Obama, became the new president of the U.S. The exchange rate swayed close to 1.2850 per euro heading down and at 11:15 Romanian time, the euro stood at 1.2880 dollars.

Overnight interests stay high, at 15-50 percent, above the key interest rate of 10.25 percent a year.

NewsIn