25 Martie 2009
Leu edges up on IMF rescue package
The reference exchange rate posted by the central bank BNR pinned the leu at 4.2838 over the single European currency, a slight advance of the Romanian currency underpinned by the official news over the agreement with the International Monetary Fund, NewsIn informs.
Yesterday the leu stood at 4.2924 against the euro.
IMF wrapped up negotiations with the Romanian authorities and will grant a 20 billion euro financing package along with the European Commission and the World Bank.
Once the news was out the leu has increased suddenly from 4.2980 to 4.2770 against the euro and then waved around 4.2780. At 2 p.m. banks were buying the euro for 4.2780 and selling it for 4.2870.
The other emergent currencies in the region had a similar evolution, influenced by the leu’s recovery. The Polish zloty started out falling from 4.5290 to 4.5963 and then grew to 4.5608 against the euro. The Hungarian forint dropped during the morning from 300 to 303.50 over the euro and then strengthened to 299.25 over the euro.
IMF wrapped up negotiations with the Romanian authorities and will grant a 20 billion euro financing package along with the European Commission and the World Bank.
Once the news was out the leu has increased suddenly from 4.2980 to 4.2770 against the euro and then waved around 4.2780. At 2 p.m. banks were buying the euro for 4.2780 and selling it for 4.2870.
The other emergent currencies in the region had a similar evolution, influenced by the leu’s recovery. The Polish zloty started out falling from 4.5290 to 4.5963 and then grew to 4.5608 against the euro. The Hungarian forint dropped during the morning from 300 to 303.50 over the euro and then strengthened to 299.25 over the euro.