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The leu returns to 4.25 per euro, on an alleged intervention of the central bank

The national currency recovered from 4.3530 to 4.2500 per euro during the first part of the day, dealers suspecting an indirect intervention of the central bank (BNR).

The leu began the day by falling to 4.3530 versus the euro, but strengthened to 4.25 per euro. At 14:15, banks were buying an euro for 4.2480 lei and selling it for 4.2575 lei.

"Considering the depth to which the exchange rate had pitted, it must be a big player or the central bank's indirect intervention we are talking about," declared a dealer.

The annual inflation rate went down at the end of last year from 6.74 percent in November to 6.30 percent, according to information today released by the National Statistics Institute. The drop was put down to fewer sales, which lowered the prices for non-food goods during the last month of the year.

The leu reached today the third consecutive historical minimum according to the reference exchange rate posted by BNR, losing almost 0.7 percent versus the previous session, and standing at 4.2985 per euro, on a market characterized by high foreign currency demand and strong fluctuations.

The reference exchange rate also shows the leu falling by 1.54 percent versus the U.S. dollar, from yesterday's 3.1842 to 3.2334. BNR has not posted such a high leu-dollar rapport since October 22 2004, when it stood at 3.2552.

BNR posted an average interbank bid rate (ROBID) of 12.15 percent, below the 12.20 percent of the previous session and the interbank offer rate for overnight deposits (ROBOR) fell to 13.01 percent, below yesterday's 13.11 percent.

Overnight interests stay at 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: percent euro central intervention bnr

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