Investors cause RON depreciation by over 1%

The Romanian leu depreciated constantly in the first hours of Thursday's trading session, to RON 3.60/€ from RON 3.55/€, due to orders to buy foreign currency in exchange of lei, through which investors attempted to reduce their losses on the Romanian currency, according to dealers on the currency market.
"The leu had only one direction today, downward, due to stop loss orders, and seems to have an extremely vulnerable position in terms of depreciation against the euro. Interbank interest rates, which are at a very low level, are not helping the national currency either," the dealer of Banca Comerciala Romana (BCR), the country's largest lender, Narcis Noaghea, told NewsIn.
On international markets, the dollar fluctuated between $1.4823/€ and $1.4873/€ in the first half of the day, and was quoted at $1.4832/€ around 11:20 Romania's hour. (NewsIn).