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August 5, 2021

RON continues appreciation: 4.4852 RON/EUR

The reference rate displayed by National Bank of Romania (BNR) continued to decrease for the fourth consecutive session and it reached RON 4.4852 / EUR, thus reaching a new historic low of the past six weeks. The exchange rate displayed on Friday was by RON 0.72 below the level of Thursday, which was RON 4.4924 / EUR. An official rate below the one reached on Friday was published by BNR on July when EUR was rated at RON 4.4796. Thus, RON appreciated by 3.5 per cent as against the historic peak which was RON 4.6481/EUR, registered two weeks before because of political strains.For USD, Friday rate was at RON 3.6250 for USD 1, down by RON 0.361 and the rate for Swiss franc went down by RON 0.061 from RON 3.7405/franc to RON 3.7344/franc. In the opening of the inter-banking session, EUR was rated at RON 4.4790 – 4.4810 by RON 0.015 to RON 0.025 over the levels reached on Thursday around 16 :30, which were RON/EUR 4.4765 / 4.4795. Subsequently, the rate started to decrease slightly within very low transaction volumes. Thus, during the first part of the day, the rate reached a historic low level of RON 4.476 for EUR 1, followed by the commercial demand for EUR advancing slightly to a historic peak of RON 4.4895 for EUR 1. « It is difficult to tell whether BNR is in the market active again, because the trading volumes are very low », according to a dealer. The interest rates displayed by commercial banks for investments at one day decreased to 4.73 – 5.23 per cent following that on Thursday they ranged between 5.72 – 6.22 per cent per year. Also, in case of amounts investment maturing in one week, the interests dropped to 4.93 – 5.43 per cent per year compared to Thursday when they were ranging from 5.72 – 6.22 per cent. « It appears that Finance Ministry sells EUR, BNR buys RON and the nit makes payments in RON. Thus, there are new amounts in the market which led to interests going down », the dealer said, Mediafax informs.The yields outperformed lately the monetary policy rate, which was 5.25 per cent per year following BNR decision to reduce the amounts lent to commercial banks within the repo auction.

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