Tuesday, September 1, 2009

Deutche Bank tells investors to buy lei

The dealers are saying that the Central Bank of Romania, BNR, has repeatedly taken masked action in the hard currency market, in order to bar the depreciation of the national currency, under the level of 4.25-4.3 Lei/euro, and this could put a brake to reaching the inflation target of 2.5-4.3 Lei/euros, at the end of the year.
According to the dealers, this has also frightened many foreign players, and, at the same time, has made of the currency market in Romania, a less liquid one, compared with the markets around, mainly led by commercial orders from the local banks.
The analysts and the dealers believe that the intervention of BNR in the hard currency market and the bad situation of the current account have made the Leu not to be, this summer, in the trend of regional increase.

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