Trading record on forex market: 43bn euros in September

The transactions carried out on the market in Bucharest reached an all time high of almost 43 billion euros in September. NBR statistics reveal that the average daily traded volume in September stood at 1.95 billion euros, so that in the 22 working days of the month, transactions totalled 42.92 billion euros. The September record therefore leaves behind the January record, when 41.9 billion euros were traded on the market. After all, the average daily traded volume in January was even marginally higher, 1.99 billion euros, but there were fewer working days. Compared with September 2007, the traded volume went up by 48%. Since the beginning of 2008, the monthly volumes have not gone below 30 billion euros, though. “Indeed the traded volumes on the forex market in September and especially in the second half of the month were significant. This overlapped with a high volatility of the RON/EUR exchange rate given that the currencies of all emerging countries were faced with severe speculative pressures. The exchange rate stood at 3,5100 to 3,7600 RON/EUR, with the RON depreciating sharply towards the end of the month. Risk aversion was at its highest due to the significant deterioration of the international financial climate,” explained Georgiana Constantinescu, Credit Europe Bank analyst.