The reference exchange rate continues to grow

BNR reported a reference level of 4.2099 lei per euro in the previous session. The leu declined in the first part of the day, from 4.22 to 4.23 per euro, evolution unlinked to the other emergent currencies in the region, which gained ground on last Wednesday. Romania's central bank pumped 9.47 billion lei on the market through a repo operation maturing on January 4 2010, pushing the interests closer to the monetary policy rate. For the U.S. dollar, the exchange rate settled by BNR climbed 0.94 percent to 2.9467 lei per dollar, from 2.9192 in the previous session. On the international markets, the U.S. dollar waved between 1.4306 and 1.4360 per euro. Overnight interests lowered to 8-10 percent a year, but still stand above the key interest rate of 8 percent a year.

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