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Demand for foreign currency drags down the leu to over 4.32 versus the euro on closing

Romania's national currency, the leu, ended today's session around 4.32 against the single European currency, continuing its fall on a high demand for euros on the market.

The leu opened at around 4.26 versus the euro and after going up to 4.24 for a short while resumed its fall to a record low of 4.3280 units per euro. At 5:10 p.m. banks bought the euro with 4.3190 lei and sold it for 4.3280 lei.

The market calmed towards the end of the day and transaction volumes reduced. However, the leu continued its fall, and the evolution now depends greatly on whether the central bank steps in or not, a dealer declared for NewsIn.

In the region, the Polish zloty depreciated from 4.0165 to 4.09 versus the euro, while the Hungarian forint lost ground from 276.90 to 281.50 units per euro.

The reference exchange rate posted today by the central lender BNR showed the leu falling to a new historic low of 4.2684 against the euro, after losing 1.3 percent on the previous session, when BNR announced an exchange rate of 4.2127 lei per euro.

The reference exchange rate posted by BNR also marked a new record low of the past four years and two months of the leu against the American dollar after the national currency fell 3.6 percent to 3.1842 lei per dollar. The central lender last posted such a high exchange rate between the two currencies on November 2 2004, when the rate stood at 31,939 lei per dollar.

On international markets, the U.S. currency strengthened initially from 1.3475 to 1.3328 against the euro, then lost ground to close to 1.34. At 5:10 p.m. Romania's hour, the euro was traded at 1.3339 dollars.

BNR posted an average interbank bid rate (ROBID) of 12.20 percent, below the 12.36 percent of the previous session and an interbank offer rate for overnight deposits (ROBOR) of 13.11 percent versus the previous 13.26 percent.

Overnight interests slipped to 12-13 percent, above the key interest rate of 10.25 percent and close to the lombard interest of 14.25 percent.

Sursa: http://www.newsin.ro

Tags: euro percent currency versus bnr

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