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May 17, 2021
BUSINESS

BNR exchange rate reaches year maximum at RON 4.4291/EUR

The RON dropped against the euro towards the middle of the inter-bank trading session yesterday and the National Bank of Romania (BNR) posted an official exchange rate higher by 2.83 cents, of 4.4291/EUR, representing the maximum this year. An identical exchange rate was announced by the central bank on December 28. The previous day, the exchange rate had been RON 4.4008/EUR.
The local currency also depreciated yesterday against the American dollar, the reference rate going up by 2.36 cents to RON 3.3885/USD. The Wednesday quotation is the highest level since April 8. Meanwhile, the official exchange rate for the Swiss franc also grew to a maximum since April 22 – RON 3.5753/CHF.
When the session started, the euro was traded at RON 4.3990, very close to the values reached on Tuesday at about 16:30, of 4.3980 – 4.40 RON/EUR. Towards the middle of the inter-bank session, foreign currency purchasing orders placed by foreign traders selling bonds in RON issued by the Ministry of Finance intensified, according to brokers, and the exchange rate exceeded RON 4.43/EUR. ‘There are foreign traders who are selling bonds in RON and the purchasing orders for other currencies put pressure on the exchange rate, with an already little liquid market. Upon the bonds entry (previous months – a/n), there was no such obvious move, probably because of indirect purchases of euro by the central bank’, Mediafax quotes a broker as sating.

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