Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Record trading on forex market in September

The transactions on the Bucharest market reached in September a historic high of almost 43bn euro. According to BNR statistics, September's median volume of trading stood at 1.95bn euro, and thus 42.92bn euro was accumulated in the 22 working days.

The record in September outpaces the peak recorded in January, when 41.9bn euro was traded on the market. January's daily median volume was even higher - 1.99bn euro - but there were fewer working days.Compared with September 2007, the traded volume marks a 48% rise. Since the start of 2008, the monthly volumes have not declined below 30bn euro.

'Indeed, the volumes traded on the forex market in September and especially in the second half of the month were significant. This fact coincided with a high volatility of the euro/leu exchange rate in a context in which all the currencies of the emerging countries recorded significant speculative pressures. The exchange rate oscillated between 3,5100 - 3,7600 lei / 1 euro. The aversion to risk rose high amid the sharp deterioration of the international financial climate,' explained Georgiana Constantinescu, analyst at Credit Europe Bank.

The bankruptcy of Lehman Brothers, the initial rejection of the 700bn-dollar bailout plan by the US House of Representatives and the spreading of the financial crisis to the European economies sparked massive fund exits from all the risky assets, and the currencies of the emerging countries were affected the most.'In addition to external factors, the national currency was significantly affected also by a series of local political decisions on pay rises in the public sector, which put big pressure on the budget deficit. Moreover, the ratings agency S&P issued a warning on the a possible downgrade of the country rating, as Romania economy is considered one of the most vulnerable', added Constantinescu.

In September, the leu lost 2.8%, with the monthly median interest rate going up to 3.62 lei / 1 euro from 3.52 lei / 1 euro in August. The foreign speculators started in September to bet on the significant depreciation of the leu. At start-October, the euro neared 4 lei before BNR intervened on the forex market to correct the move. In September, the volume of the interbank operations averaged daily 727 million euro. Compared with August, the volume was by 15% bigger.

Ziarul Financiar reminds that since the start of the year the forex market has been recording constantly net outflows, with the statistics thus showing there are pressures for the leu's depreciation. AGERPRES SIFs see drop by 7 pct in opening of Thursday trading session

The Bucharest Stock Exchange (BVB) continued to fall in the opening of the Thursday trading session, with the BET-FI index and the SIF index having dropped by 7.02 percent, 20 minutes since the launch of the transfers.

The general market index BET-C registered depreciation by 2.44 percent, with the Bet index, reflecting the evolution of the 10 most liquid shares listed, saw a drop by 3.13 percent.

The ROTX index went down by 2.49 in the first minutes the launch of the trading, the extended blue-chip index BET-XT dropped by 3.87 percent, with the sectoral index for energy and utilities BET-NG having dropped by 3.53 percent.

The BVB liquidity stood at 284,569 euros, with transfers having been dominated by the BRD (Romanian development Bank), SIF5 Oltenia, Erste Group, SIF3 Transylvania and SIF2 Moldova.On the RASDAQ market there were transferred in the first 20 minutes since the opening shares totaling some 42,000 euros.

 

Sursa: http://www.actmedia.ro

Tags: bet index percent trading volume forex september market euro blue brd sif bnr bvb

Articole similare