Midday Forex: Leu hits record low against dollar

The National Bank of Romania set a reference rate of 3.5243 lei/dollar, up 2.16% from Friday, the highest ever, according to central bank data.
On Friday, the central bank set a reference rate of 3.4499 lei/dollar.

USD/RON quotation is indirect, calculated according to the RON/EUR and EUR/USD parities, depending largely upon the international market. “Some people say the euro is on a path toward parity with the dollar. It remains to be seen if that will happen, or better when”, said Andrei Dumitrescu, dealer of Volksbank Romania.

The dollar grew during the day to 1.1877 dollars against euro in the international market, but lost much of the gains to 1.1980 dollars against euro.

Versus the European currency, the National Bank of Romania set a reference rate of 4.2180 lei/euro, up 0.31% from Friday’s rate of 4.2051 lei/euro, amid generally positive trend in the region. This is the highest exchange rate announced by NBR this year, on January 4 being 4.2265 lei/euro.

In the region, the Polish zloty had a strong start today, increasing from 4.1970 against euro to 4.1470, while the Hungarian forint traded between 286.06 and 289.46 forints/euro.

In the monetary market, short term interests climbed to monetary policy interest rate range of 6.25% per year.

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