The Romanian National Bank yesterday displayed an official exchange rate of 4.2311 lei/Euro, the highest level since December16th 2009, when the exchange rate was 4.2459 lei/euro. The US dollar also gained against the leu, reaching a historical high, with the NBR"s exchange rate being 3.5496 lei, a historical high, as the exchange rate of the European currency reached 1.195 Euros/dollar, a four-year low.
The leu did gain slightly after the NBR published the official exchange rate, to 4.21 lei/euro. Adrian Vasilescu, the advisor of the governor of the Central Bank, said: "This strengthening of the leu is influenced by the international market".
He said it was possible that the political uncertainty would influence the domestic currency market. Adrian Vasilescu also considers that speculative attacks on the exchange rate are possible, but that they would not pose a threat.
The NBR official also said: "The Central Bank is watching the exchange rate, but I don"t know if it will protect the leu or not. We are going to make sure that market stability is preserved".
He added that yesterday, the exchange rate fluctuated due to the political uncertainty, which are making their presence felt in the market. Adrian Vasilescu said that investor attitude is extremely important: "For instance, during yesterday"s first half, they were keeping their Euros, but they started selling them due to some local issues".
On the interbank market, the leu gained ground against the Euro, after the opening of yesterday"s trading session, in line with the trend of the other currencies in the region, analysts say. "The Polish zloty and Hungarian forint saw higher gains yesterday, after depreciating on Monday, most likely due to sellers of Euros who bought those currencies back", they claim.
Analysts also say that the market are very sensitive to comments by poli
