Romania's leu moves towards 3.63 against the single European currency

The leu dipped afterwards  to 3.6350 – 3.6430 against the euro at 11:10 a.m.

The market is quieter than in the past days however the leu's hike is insignificant. The exchange rate seems to be moving towards 3.60 considering the high interbank interest rates and the market expects another uplift of the monetary policy interest rate, according to dealer with Banca transilvania, Florin Bota.

The Polish, Hungarian and Turkish currencies had a similar evolution against the euro in the first part of the day.

On international markets the U.S. dollar dropped from 1.4550 to 1.4633 against the euro reaching 1.4621nat 11.10 a.m. Romania's hour.

Interbank interest rates for overnight deposits remain up at 10-12 percent per year following the lack of liquidity on the market and the expectations regarding a new hike of the key interest rate.

Source: NewsIn