14 Decembrie 2009
Midday Forex: Leu falls on political concerns
The National Bank of Romania has set a mid-point reference rate of 4.2477lei against euro, up marginally (0.31%) from yesterday, as the leu has been under pressure Friday over concerns of political instability and bearish sentiment on the region.
The central bank posted a reference rate of 4.2347lei/euro yesterday.
“The national currency has continued the decline we’ve seen in the past days, as it reflects the bearish sentiment on the region. The downtrend is even more acute in case of the leu, as the political problems act as catalyst to already existing negative factors”, a dealer told NewsIn.
The national currency was trading near 4.2420 versus euro at the opening, and recouped some of the losses in the early trades, to 4.2360, only to drop to 4.2520 at noon and remain week for the remainder of the day. At 13:15 EET, banks were buying a euro for 4.2475 lei and selling it for 4.2574lei.
In the region, the Polish zloty gained in the morning to 4.1340 versus euro but dropped afterwards to 4.1550, only to trade near 4.1350 at noon. The Hungarian forint decreased in the morning from 272 to 273.5 versus euro, but edged up to below 273 at noon.
Versus the US dollar, the mid-point reference rate set by the National Bank of Romania increased by 0.13% to 2.8774 lei/dollar, from yesterday’s 2.8737lei/dollar.
“The national currency has continued the decline we’ve seen in the past days, as it reflects the bearish sentiment on the region. The downtrend is even more acute in case of the leu, as the political problems act as catalyst to already existing negative factors”, a dealer told NewsIn.
The national currency was trading near 4.2420 versus euro at the opening, and recouped some of the losses in the early trades, to 4.2360, only to drop to 4.2520 at noon and remain week for the remainder of the day. At 13:15 EET, banks were buying a euro for 4.2475 lei and selling it for 4.2574lei.
In the region, the Polish zloty gained in the morning to 4.1340 versus euro but dropped afterwards to 4.1550, only to trade near 4.1350 at noon. The Hungarian forint decreased in the morning from 272 to 273.5 versus euro, but edged up to below 273 at noon.
Versus the US dollar, the mid-point reference rate set by the National Bank of Romania increased by 0.13% to 2.8774 lei/dollar, from yesterday’s 2.8737lei/dollar.