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Political tensions push the reference exchange rate up to 4.2495 lei/euro

The reference exchange rate of the central lender BNR boosted 1.22 percent to 4.2495 lei per euro, as President Traian Basescu's decision to dismiss the Interior Minister Dan Nica and PSD announcement of leaving the government put pressure on the national currency.

BNR yesterday reported an exchange rate of 4.1981 lei per euro.

Traian Basescu inked the recall decree of Nica this morning and appointed Vasile Blaga as interim vicepremier and Interior Minister. Soon after that, the head of Social-Democrat Party (PSD) Mircea Geoana said the social-democrat ministers are leaving the government.

The euro was traded for 4.2150 lei at rising bell and soared above 4.23 after Basescu's announcement. The leu inched slightly at noon, but soon started to plunge gradually to almost 4.27 per euro. At 1:15 p.m. banks were buying an euro with 4.2582 lei and selling it for 4.2673 lei.

For the U.S. dollar, BNR's exchange rate rose 1.9 percent to 2.9163 lei per dollar, from 2.8619 in the previous session.

On international markets, the American dollar advanced gradually from 1.4670 to 1.4550 per euro and at 1:15 p.m. Romania's hour, the euro was traded for 1.4560 dollars.

Interbank interests for overnight deposits lowered to 8-10 percent after BNR's repo operation, but still stand above the key interest rate of 8 percent a year.

BNR injected 11.97 billion lei on the banking market through a repo operation maturing on October 5, at an interest equal to the monetary policy rate of 8 percent a year. Before the operation, interbank interests were standing near 12 - 12.5 percent a year.

Sursa: http://www.newsin.ro

Tags: euro exchange percent bnr

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