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Romanian Leu In Neutral Drive, Ctrl Bank Intervention Unnecessary – Deputy Governor

The leu’s current exchange rate has a “relatively neutral” effect on Romania’s economy and the central bank will not intervene to alter its evolution unless the rate sidetracks, deputy governor Cristian Popa said Thursday.
Romanian Leu In Neutral Drive, Ctrl Bank Intervention Unnecessary - Deputy Governor
15 apr. 2010, 12:59, English

„I believe the exchange rate is relatively neutral at the moment, in line with the economic fundamentals,” Popa told an economic seminar. He added the central bank could step in to correct any deviation in the exchange rate.

However, the current rate is not in opposition with the economic fundamentals, Popa said.

Romania’s leu has firmed against the euro in 2010. In March, the leu hit a 14-month high at 4.0653 to the European currency.

At around GMT0950 in Bucharest, the leu traded at 4.135/4.145 per euro.