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Romanian National Bank sets rate at 4.28 RON/Euro. All currencies in the regions down. Dealers say buying is aggressive but no need to panic

de V.O.
Marţi, 12 iulie 2011, 17:34 English | Business

The Romanian national currency leu (RON) was traded at a rate of 4.2910 RON/Eur on the interbanking market on Tuesday, due to worries related by the Greek and Italian crisis. Market dealers told that buying was aggressive but that was a trend noticed on all markets in the region and was not a cause for panic.  Central bank BNR set the Tuesday rate at 4.28 RON/Eur, as compared to 4.22 RON/Eur on Monday.

Dealers told  that nervousness on the market was making currencies more vulnerable and that causes were linked to the evolution of the crisis in European countries such as Greece and Italy.

The RON/Eur rate improved slightly in February, but the volatility increased in March to an 8-month high. The first quarter ended with a 3.1% improvement for RON against the euro in nominal terms.

Adrian Vasilescu, aide for BNR Governor Mugur Isarescu, commented on Tuesday's evolution of the RON against the European currency: I would not even notice it - a buyer or seller may come and change the situation of the day, he said.

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