Euro hits four-year high in a frantic session

“Towards the end of the day, there was a buyer who purchased lei, however we don’t know if it was the central bank. The general downtrend is determined by the presence of too large lei-currency liquidity in the market and by the massive buyout of foreign currencies. The market is calm, stable, and volumes are not too high,” said a market dealer, quoted by NewsIn.

The leu lost over 0.02 lei versus euro in early session, down to3.9770 units/euro from 3.9550/euro, and after the sudden hike at noon, near to 3.95lei/euro, it came back on the depreciation trend. After nearing to 3.97 lei/euro threshold, the national currency took a hike again at 16:10 and at 16:49, the banks were paying 3.9530 lei for a euro and sell it at 3.9595 lei.

The emerging currencies in the region were recording a mild growth. Thus, after losing ground from 265 to 270 units/euro, the forint climbed to 267.7 units/euro, while the Polish zloty slid in early session to 4.19 units/euro from 4.10, while at noon, it climbed to 4.1250 units/euro.