Romania's leu dips to 3.72 lei per euro on the country's negative image regarding the economy

Banks sold 1 euro for 3.6850 lei in today's opening session. The leu then dipped to 3.7240 lei per euro. The national currency now stands at around 3.69 to 3.7 lei per euro.

There is a significant demand for the euro on the market, said Narcis Noaghea, a dealer with Banca Comerciala Romana (BCR). He added the central bank will face difficulties in reaching its inflation target this year if the leu continues to fall.

The U.S. dollar was traded from 1.4782 to 1.4890 U.S. dollars per euro on the international markets, while at 11:20 a.m Romania's hour the euro stood at 1.4889 U.S. dollars.

The interbank interest rates for overnight deposits idled around 7.4 and 7.9 percent per year, below the monetary policy interest of 8 percent per year, on higher liquidity on the market.

BNR announced today it will hold an auction to collect two-week deposits from banks, to balance the high liquidity on the market.

Source: NewsIn