The figure is significantly lower than the €600 mln needed to change by one eurocent the exchange rate in any member country of the euro-zone. The difference comes from the market liquidity, the global feeling and the intermediaries through which central banks make interventions on the market.
“In a hypothetical situation, a foreign bank, from London, as an example, enters right into the market and appreciates the RON by two bani (RON 0.02) with the help of €100 mln, at the most. Of course, this would only happen if there was an interest in changing the exchange rate,” ING Bank’s Senior Economist, Ciprian Dascalu, told Business Standard. However, he added the necessary currency inflow is not strictly established, but it depends on several elements, such as the global feeling, meaning that, if currencies in the region appreciate, everyone secures their bids, so the exchange rate can move one ban with virtually no transactions.
