Early in yesterday’s trading session, the exchange rate reached RON 3.79/€1, due to massive foreign currency buys. The rate stabilized later at RON 3.76-3.77/€1.

“Stock markets are bleaker today than they were yesterday, and this could be due to liquidation of positions, because investors have an aversion for risk,” said Banca Transilvania’s Chief Dealer, Ioan Birle.

National Bank Governor Mugur Isarescu yesterday said the leu will begin appreciating at some point, but did not mention the level for this change in trend.