Forex market rebound in August
Transactions conducted on the Bucharest forex market climbed to 39.5bn euros in August, thus approaching the 42bn-euro all-time high recorded in January. In fact, August was the second consecutive month that saw a rise in traded volumes, after activity had slowed down in the first half of the year
Transactions conducted on the Bucharest forex market climbed to 39.5bn euros in August, thus approaching the 42bn-euro all-time high recorded in January. In fact, August was the second consecutive month that saw a rise in traded volumes, after activity had slowed down in the first half of the year. The rebound seen on the forex market occurred amid an improvement in the regional sentiment, with the exchange rate recording a sudden appreciation at the beginning of August. July had, in turn, brought a significant strengthening of the RON, by around 3%, when the exchange rate was down from 3.64 to 3.54 RON/EUR. August also saw higher inflows, fuelled by European funds coming in, and by sums exchanged by workers returning home on holiday from abroad. The daily average of transactions conducted in August rose to 1.88bn euros, the second highest peak after the one recorded in January, when the average was of 1.99bn euros a day.
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