Romania’s leu gains ground to 3.5960 versus the euro on better-than-expected GDP in Q1

The leu grew from 3.6228 versus the euro to 3.5970 and then oscillated around 3.60 and at 10:40 banks bought the euro for 3.5960 lei and sold it for 3.6000 lei.

The currency started to grow after the Statistics Institute released data on the GDP which advanced 8.2 percent in the first quarter, beating analysts’ estimates of 7.4 percent. The GDP stood at 86.745 billion lei.

On the international markets, the U.S. dollar rose slightly to 1.5515 versus the euro and then started to fall. At 10:45, Romania’s hour, the euro traded at 1.5533 dollars.

Interbank interests for overnight deposits stayed at 9.75-10.25 percent, slightly above the monetary policy rate of 9.75 percent.

Source: NewsIn