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January 23, 2022
BUSINESS

BNR’s reference rate reaches lowest level since April 2010

The national currency appreciated for the third consecutive session, and the reference exchange rate announced, yesterday, by the National Bank of Romania (BNR) dropped at RON 4.1020/ EUR, the lowest level of the past 11 and a half months, according to Mediafax. The rate is 2.4 ban lower than Wednesday’s rate, of RON 4.1260/EUR. A lower rate than this Thursday’s was reported by the central bank on April 7, when the euro was rated at RON 4.0908.


At the same time, the RON appreciated also, slightly, against the American dollar, the rate reported by BNR, of RON 2.9046/USD, marking a new record low, since January 20, 2010. On that date, the reference rate was RON 2.9043/USD. Thursday’s rate was fairly close to the one in the preceding session, of RON 2.9049/USD.
The banks rated the euro at RON 4.1030 – 4.1050 at the beginning of the session, over 1 ban below the rate reported at the end of Wednesday’s session, of RON 4.1155 – 4.1175/EUR.


Subsequently, the rate slumped to RON 4.1/EUR, but the market found this level fairly resilient and the rate rose slightly. “The profit margins of a number of foreign players pushed the rate to a maximum of RON 4.12/EUR, but the players struck back with aggressive selling orders, making it revert towards RON 4.1/EUR,” the dealer of a bank stated. He added that several international banks were placing their bets on a stronger RON, estimating profit mark up-rates ranging between RON 4 and 4.05/EUR.


Around 1 pm, transactions were conducted at RON 4.1000-4.1025/EUR. Currencies in the region also reported appreciations of up to 0.4 pc.

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