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Romanian Leu Would Not Depreciate On Liquidity Crisis – Ctrl Bker

The Romanian leu would not depreciate against the euro if the market would lack liquidity and a 20% variation of the exchange rate in two years is not a shock, central bank governor Mugur Isarescu said Wednesday.
Romanian Leu Would Not Depreciate On Liquidity Crisis - Ctrl Bker
18 feb. 2009, 15:37, English

A variation of 20% of the leu exchange rate in two years is not a shock, a shock is a sudden movement within one to three weeks, according to Isarescu.

"We do not engage on a precise exchange rate. It has to be correlated with several other economic factors," Isarescu said.

According to him, further interventions of the central bank will also aim the adjustment of monetary aggregates.

The central bank computed Wednesday an indicative of RON4.2950 to the euro, second day in row in which the daily indicative strengthens versus the euro.