Forex market trading goes back to 2007 level

The volume of trading on the Bucharest forex market continued to decline in March, to a little over 31 billion euros, the lowest level recorded since September 2007. The daily average of volumes traded on the interbank market fell to 1.41 billion euros in March, from 1.64 billion euros in February, according to data from the NBR (National Bank of Romania). January saw 2 billion euros traded daily. The decline in volumes reflects the players’ reduced appetite for trading. Amid constant NBR intervention on the market starting in January, blocking any attempt by the euro to rise above 4.3-4.35 RON, foreign players preferred to turn to other currencies on the emerging markets in the region, where exchange rates fluctuated freely.