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Speculations pull down Romania's leu to the steepest level of the past month, of 3.8359 per euro

Romania's national currency, the leu, dipped to a reference rate of 3.8359 against the single European currency, the lowest level in the past month, following speculations on the leu's decline, which pushed the euro to 3.85 on the market.

Romania's Central Bank (BNR) established a reference exchange rate of 3.7835 lei per euro, a level which has not been touched since October 8, when BNR indicated a reference rate of 3.9233 lei per euro.Rumors regarding new bankruptcies hovered in the region and prompted declines for most of the neighbour currencies, said Ciprian Mihai, chief of treasury with Volksbank Romania, adding investors are wondering about when BNR is to step into the market to protect the leu, as the central lender annoounced it will intervene when necessary.The leu fell from 3.8025 to 3.8505 lei per euro, it recovered to 3.8325 at 12:30 a.m., but started to lose ground afterwards. Banks were buying an euro with 3.8320 lei and selling it for 3.8350 lei at 1:55 p.m.

In the region, the emergent currencies had a curly evolution today. The Polish zloty waved between 3.7230 and 3.7902 versus the euro and then stabilized at 3.7485, while the Hungarian forint dropped from 266.83 to 271.73 and then inched to 270.10. Turkey's lira slipped versus the euro from 2.0039 to 2.0721 and then increased to 2.0419.BNR's reference exchange rate shows a 3.1 percent drop of the leu versus the U.S. dollar, from 2.9706 to 3.0628 lei per dollar. The U.S. dollar has not reached this level since January 3, 2006, when BNR established a reference rate of 3.0930 lei per dollar.On international markets, the U.S. dollar lowered constantly in the first part of the day, from 1.2481 to 1.2632 versus the euro, but started to gain ground after 9:30 a.m. to 1.2507. At 1:55 p.m. Romania's hour, the euro was traded for 1.2572 dollars.BNR posted an average interbank bid rate (ROBID) of 13.32 percent per year today, from 13.16 percent in the previous session and an interbank offer rate for overnight deposits (ROBOR) of 16.25 percent per year.Interbank interests for overnight deposits stood at 13-18 percent per year, close to the 14.25 percent interest for lombard credit, but high above the key interest rate of 10.25 percent per year.

Sursa: http://www.actmedia.ro

Tags: euro percent dollar bnr reference level romanias

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