Romania's leu ups to 3.6435 vs. the euro on high interbank interests, growth of prices for utilities

The leu climbed from 3.6410 to 3.6290 versus the euro this morning and then started to lose ground. Banks bought the euro with 3.6455 lei and sold it for 3.6500 lei at 3:20 p.m.

There was a higher demand for lei after Romania's Central Bank (BNR) hiked the monetary policy rate to 10 percent per year, Banca Comerciala Romana dealer Narcis Noaghea said, adding higher prices for electricity and gas could pave the way to another increase of the key interest rate.

The power market regulator ANRE announced on June 26 that prices for gas delivered to the population will increase 12.5 percent and those for electricity will advance 4.4 percent starting today.

On international markets, the U.S. dollar waved around 1.5724 to 1.5778 versus the euro in the morning. At 3:20 p.m. Romania's hour, the euro was traded for 1.5780 U.S. dollars.

Interbank interests for overnight deposits stood at 10.85 – 11.35 percent per year, exceeding the monetary policy rate of 10 percent per year, on low liquidity on the market.


Source: NewsIn