13.8 C
March 23, 2023

Exchange rate not influenced by result of general elections

BNR posted an exchange rate that dropped by RON 0.001 to RON 4.5339/EUR. The capital market oscillated slightly at the opening of the trading day and most of the stocks continued to register low variations.

The RON does not seem to be affected by electoral tensions, registering low fluctuations. The RON quotes registered low fluctuations during the first part of the interbank trading day, the National Bank of Romania (BNR) posting a reference exchange rate that dropped by RON 0.001 to RON 4.5339/EUR. On Friday the exchange rate stood at RON 4.5349/EUR. The RON/USD exchange rate climbed by RON 0.0066 from RON 3.5067/USD to RON 3.5133/USD. At the same time, the official RON/CHF exchange rate grew from RON 3.7499/CHF to RON 3.7584/CHF. On the interbank market the RON/EUR exchange rate dropped slightly compared to Friday, standing at RON 4.529/EUR at the opening of the trading session on Monday, compared to the RON 4.5349/EUR exchange rate posted by BNR on Friday. ROBID and ROBOR one-day interest rates dropped slightly, from 5.16 – 5.66 per cent to 5.12 – 5.62 per cent per year. At the same time, interest rates for one-week deposits dropped from 5.32 – 5.82 per cent to 5.27 – 5.77 per cent per year. The result of the general elections did not encourage investors to buy on the stock exchange either. The Bucharest Stock Exchange climbed by 0.11 per cent midway through the session, in a market in which most investors continued to adopt waiting positions and the turnover totaled just RON 2.9 M (EUR 656,000). Fondul Proprietatea stocks were the most traded, the operations involving them totaling RON 840,000. The market oscillated very slightly at the start of the session, and most stocks continued to register low variations. Midway through the session the BET index of the ten most liquid stocks and the Stock Exchange’s BET-XT index were stagnating. The BET-XT index reflects the evolution of the 25 most-liquid Romanian stocks, including the SIFs and Fondul Proprietatea. The BET-BK extended index that includes the 25 most-liquid stocks, including stocks of the Austrian Erste bank (EBS), dropped by 0.18, while the BET-NG index of energy sector companies was almost similar to the level it registered on Friday. At the same time, the BET-FI index of the five SIFs and of the Fondul Proprietatea stocks dropped by 0.1 per cent. The SIF Muntenia (SIF4) stocks were transferred to the Deal market through two transactions totaling RON 1.4 M. “Since USL’s clear victory means higher political stability, at least on the short term, we believe that RON-denominated assets will not be negatively affected by the developments on the political stage,” ING economists state in a note issued to their clients, Hotnews.ro informs.

Related posts

FIFA asks the FA and the Sunday Times to provide reports and evidence

Nine O' Clock

Partnership Agreement for 2014-2020, approved

Nine O' Clock

Financial aid for Oltchim, under EC scrutiny