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Wednesday, November 09, 2005

RON recovers from Monday's decline

The European currency lost, in yesterday's session, almost one ban compared with the RON, after the two bani appreciation registered on Monday, moving off from the 3.7 RON limit, on a market that maintains its speculative character.

The euro opened yesterday's session at more than 3.69 RON, a level close to the Monday listings, but the sale orders brought a slow decrease of the exchange rate, in spite of some 3.7 RON increase expectations.

The listings slowly lowered to 3.67 RON per euro. According to the dealers, the euro sales came from the same banks that placed purchase orders the day before.

One of the dealers stated that the braking of the 3.7 RON per euro limit is improbable as long as the National Bank of Romania (BNR) still has something to say at this level.

Comparing with the European currency, the domestic currency maintains its winning position at which it started the year, the nominal appreciation situating at 7.1%.

Posted by Iulia Rasoiu : 11/09/2005 10:29:00 am