Romania's financial market is waiting to see where a new level can be found, and the threshold around which the fight is now being fought is RON 5.1 to the euro (EUR), according to XTB Romania strategy consultant Claudiu Cazacu."We have a much more volatile dynamic than the one we have become accustomed to on the exchange rate, once the threshold of RON 5 was broken. Uncertainty, emotion play an important role at the moment in the market, they played an especially important one yesterday. And now, traders are looking for a new equilibrium benchmark. Because, while so far we were used to levels slightly below RON 5 lei to the EUR, now, at over RON 5, we are trying to find the new benchmark. I think the market is partially waiting, although it seems hard to believe, it is waiting to see where a new level can be found. From my point of view, the volumes are much higher than usual in our estimate. The threshold around which the fight is now being fought is RON5.1. From my perspective, as a matter of opinion, I think the markets are eager to test levels above RON5.1, but I don't know if the central bank is also open to allowing too fast a move. So, I would say that we are following this level of 5.1 for today's session and in the short term. Of course, theoretically, anything can happen, but in practice I don't think that there is a market from which the central bank is absent, and it is not a market that is completely gripped by speculative fever. From a macro point of view, we needed a slightly weaker exchange rate for the leu and this was the moment when it was triggered," Cazacu said on Wednesday.Romania's national currency the leu (RON) depreciated on Tuesday against the euro (EUR), which was calculated by the National Bank of Romania (BNR) at RON 5.0378, up 6.03 bani (1.21%) from a previous quotation of RON 4.9775, an all-time high.Spokesman for the National Bank of Romania Dan Suciu said on Tuesday that the National Bank of Romania raised liquidity from the market after capital inflows decreased and outflows increased significantly, which led to an increase in interest rates.The three-month ROBOR (Romanian Interbank Offer Rate) index, based on which the cost of RON-denominated consumer loans with variable interest rates is calculated, rose on Wednesday to 6.47% per annum, from 6.08% per annum in the previous session, according to data published by BNR.
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The Nufărul geothermal station in Oradea, developed through a European project worth EUR 25 million, was officially inaugurated on Thursday, May 29. The station is the first of its kind in Romania, and builders had to drill approximately 2,800 meters for water. “All extracted water comes to the geothermal station on Iancu de Hunedoara Street, […]
CTP, a leading developer, owner, and operator of industrial and logistics properties, has extended its collaboration with HelpShip, a major e-fulfillment and logistics provider within the euShipments.com group, increasing HelpShip’s leased space to 20,000 sqm at CTPark Oradea Cargo Terminal. The expanded facility will serve as the company’s main fulfilment center. With HelpShip’s growth from […]
