June 27 (SeeNews) - Trading in Romanian lei will be less volatile on Monday, as the currency proved to be more resilient to the Brexit shock than its regional peers, analysts said.
"Today, we could see some mild gains for the RON given the positive mood in global markets this morning," ING analysts commented in a daily snapshot on Monday.
Also, ING analysts noted that regional peers saw far greater volatility, with the Hungarian forint and the Polish zloty softening by over 1% and 2%, respectively.
The leu ended Friday just 0.2% weaker, near 4.5250 per euro, possibly aided by the central bank’s presence in the market to provide liquidity, ING added.
For their part, Raiffeisen Bank analysts noted that RON assets were enough resilient to the Brexit vote.
"Sensitivity of domestic financial markets to the increase in risk aversion on the global market is probably the most important channel by which the Brexit vote could impact the Romanian economy. In this case, the contained losses on Friday represent good news."
Also, Raiffeisen Bank emphasized that losses incurred by RON assets as a result of the Brexit vote were much lower than ones recorded on the regional markets.
The leu changed hands between 4.5208 and 4.5153 against the single currency on Monday morning, real-time interbank FX data published by local portal Conso.ro indicated.
(1 euro=4.5366 lei)
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