Romanian currency strengthens after Central Bank intervention

Vineri, 10 octombrie 2008, 15:03 English | Business

The Romanian Central Bank (BNR) announced on Friday a reference exchange rate of 3.7690 RON per Euro, 0.055 RON less than the previous session. The exchange rate on Thursday was 3.8249 RON per Euro.

The Central bank intervened directly on the market, in order to strengthen the national currency, analysts saying that the exchange rate was announced ten minutes later than usual, in order for the RON to each the lowest level of the day. Georgiana Constantinescu, Credit Europe Bank analyst, said for The Money Channel that the Central bank tries to send a positive signal on the market.

The session on Friday was extremely volatile, RON ranging between 3.95 and 3.77 RON per Euro.

Compared to the US dollar, the RON strengthened slightly, from 2.7817 to 2.7811 RON per dollar. The Swiss franc ended the day at 2.4816 RON, 0.1 RON less than Thursday.