Analysts say BNR could intervene to calm the leu

The market is anticipating that data regarding gross domestic product growth, supplied today by the National Institute of Statistics (INS), will be below the official prognosis revised negatively to 6.1 percent, which practically speaking would confirm a slowing in the rhythm of economic growth. The leu absorbed the impact of an advance of GDP below previsions and of the rise in aversion to risk on international markets, dropping to RON 3.76/€1, close to the maximum level registered for this year. “It is possible that the National Bank will not allow the leu to exceed RON 3.8/€1. BNR could once again intervene,” said Dragos Cabat, President of Chartered Financial Analyst (CFA).