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Bucharest
December 2, 2020
BUSINESS

RON appreciates after motion failure

The National Bank of Romania (BNR) announced reference exchange rates of 4.2254 RON/euro and 3.4350 RON/USD, according to Realitatea.net. The motion failing to go through Parliament had a beneficial effect on the home currency, which was appreciating on the inter-banking market yesterday morning, having reached the year’s low against the euro on Tuesday. The euro trading yesterday revolved at around 4.22 RON/euro, with the RON recouping nearly 0.01 RON from yesterday’s quotation of 4.2322 RON/euro. Dealers say the RON appreciated amid optimism created by the non-confidence motion falling and the rises on foreign stock exchanges.


Stock trading was up 1.57 per cent at the opening of yesterday’s session on a market that held the motion’s rejection as positive news, with liquidity rising way higher than the starting level in the previous session, Mediafax reports.


Some speculators placed their bets on the motion being turned down even at the conclusion of the previous trading session, and rose stock prices, in a bid to be ahead of the other investors. The stock exchange climbed Tuesday 3.575, with SIF stocks going up by an average of 5.86 per cent.


The Social Democratic party-proposed non-confidence vote against government was rejected Tuesday, eight votes short from the minimum 236 required. Yesterday’s session started with quotations of the top ten most liquid stocks going up an average of 2.25 per cent, with SIFS-held shares upping the BET-FI index by 2.84 per cent over Tuesday’s level.

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