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NBR helps ROL again

For the second time this month, the National Bank of Romania (NBR) sold currency on the inter-banking market yesterday to reverse the ROL/euro exchange rate, which had exceeded the 40,000 ROL limit. But the intervention was small against the increasing market demand for foreign currencies, so the closing rate went back up to 39,900 ROL for one euro, after having dropped to 39,800 ROL/euro

Ziarul Financiar · 12 noiembrie 2003 · 1 min de citit



For the second time this month, the National Bank of Romania (NBR) sold currency on the inter-banking market yesterday to reverse the ROL/euro exchange rate, which had exceeded the 40,000 ROL limit. But the intervention was small against the increasing market demand for foreign currencies, so the closing rate went back up to 39,900 ROL for one euro, after having dropped to 39,800 ROL/euro. NBR calculated an exchange rate of 39,850 ROL/euro. The market expects the single European currency to go beyond 40,000 ROL today, whereas the NBR is unlikely to support the Romanian currency again. ZF



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