Romania’s leu drops to 3.66 versus the euro after interbank interests fell below key policy rate

Interbank interests for overnight deposits stood at 8.5 percent the lowest and 9.5 percent the highest at the end of the week, Banca Trasilvania dealer Florin Bota said, explaining the leu, though likely to appreciate soon, has an uncertain future ahead.

On the international markets, the U.S. dollar oscillated from 1.4633 to 1.4665 against the euro and at 11:25 a.m. Romania’s hour the U.S. dollar stood at 1,4654 versus the euro.

The leu has been continuously dropping since the beginning of the year because of massive spending during the winter holidays and in a general deteriorating economic context worldwide caused by slump in the U.S. economy.


Source: NewsIn