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Romanian Ctrl Bk Gov Statements Signal Possible Attacks Upon Leu – Bk Assoc Head

The statements of Romania’s central bank governor Mugur Isarescu signal that there could take place new speculative attacks upon the local currency, the Romanian Banks’ Association ARB president Radu Ghetea said Tuesday.
Romanian Ctrl Bk Gov Statements Signal Possible Attacks Upon Leu - Bk Assoc Head
24 feb. 2009, 16:36, English

“The central bank made significant efforts last fall when an attack upon the leu took place. From the governor’s statements, there are signs of a new attack upon the leu,” Ghetea said.
 
Last October, Isarescu said there was a failed attack upon the leu, as money-market interest rates have reached up to 100% for swap deals on an acute lack of liquidity.
 
The National Bank of Romania, or BNR, is ready to act to prevent any disruptive adjustments of the leu exchange rate, the central bank governor Mugur Isarescu said Monday.
 
The leu has lost 7.42% against the euro in 2009, taking into account the central bank’s reference exchange rate on the last day of the year of RON3.9852 versus euro.
 
On Tuesday, the central bank announced a reference exchange rate of RON4.2810 versus the euro.