The National Bank of Romania set a reference rate of 4.2808 lei/euro, 1.17% higher than Thursday and highest since November 2009, after a steady depreciation of the leu in the inter-bank market in morning trading.
On Thursday, the central bank set a reference rate of 4.2311 lei/euro.
The leu fell from the early trades from 4.2380 to 4.2850 units/euro, and at 13:20, a euro was traded for 4.2760 lei.
Currencies in the region followed a similar trend versus euro today, with the Polish zloty falling in the morning from 4.1180 units/euro to 4.1460 units/euro, and recouping afterwards to 4.1280 units/euro.
“The leu slumped in the morning, the exchange rates reaching 4.28 lei/euro. There is a lingering uncertainty surrounding the currency market and nobody knows what could be next. I don’t think we could talk now about a central bank intervention. There is great uncertainty because nothing good is happening. The fiscal reform was put on hold, and the chances of continuing the stand-by agreement with the IMF are wearing thin; we’re at risk of a 9% budget gap”, Vlad Muscalu, economist at ING Bank Romania told Wall-Street.
The Hungarian forint fell in the morning from 283 to 286.40 units against euro and rose afterwards to 285.30 units/euro.
Versus the US dollar, the National Bank of Romania set a reference rate of 3.4911 lei/dollar, up 1.38% from Thursday level of 3.4437 lei/dollar.
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