Leu, at best exchange rate in past three months versus euro

Romania's national currency, the leu, reached last weekend the best exchange rate in the past three months versus the euro.

Thus, Romania's Central Bank (BNR) announced on January 7 an official exchange rate of 4.2580 lei for 1 euro, down 0.41 bani from January 6. At the start of the trading session, the exchange rate fell even to 4.2510 lei / 1 euro, and afterwards it rose slightly to the level announced by BNR.

The dealers of forex transactions, say this time there was neither BNR's 'hand' nor the 'help' given by currency exchanges in the country made by the Romanians who work abroad, Gandul daily writes.

'All stock markets are on the green ... the forint, the Czech koruna, the zloty are going up... there is a wave of optimism. Investors are now willing to invest in riskier instruments. There is generalized movement in the region of Central and Eastern Europe. The zloty, for example, reached the best exchange rate in the past two months, also' a dealer from the market told Gandul. The impact of the International Monetary Fund (IMF)'s decision on extending or not the seventh loan disbursement from the agreement was included in the exchange rate, with all investors considering that Romania will receive the money.

As regards future developments, he says that if nothing serious happens in the global economic environment, one may speak of an exchange rate of 4 lei for 1 euro at the end of this year.

'Investors may take it even to 4 lei at a given time this year, but the market expects BNR to intervene at 4.1 lei. However, the tendency is good, in the sense of the leu's appreciation. It remains to be seen, if BNR intervenes, if necessary (...)', the dealer added, quoted by Gandul. The leu's trend versus the dollar was different. BNR announced on January 7 an exchange rate of 3.2779 lei / 1 dollar, up 2.31 bani from January 6, which is the high of the past month.