June 24 (SeeNews) - Trading in Romanian lei will be volatile today, following the Brexit pro-vote, while the near-term outlook for leu markets is likely to be quite foggy until the dust settles, ING Bank Romania analysts said on Friday.
The euro traded at 4.56 lei this morning, at the highest level since March 14, following the UK vote to leave the EU, ING bank said in its daily snapshot.
This is some 450 pips above yesterday’s euro/leu close of 4.5150 during regular hours, when market participants were largely expecting a Bremain outcome.
However, ING added, regional peers softened even more, so this might point to central bank intervention to smooth the trend, but next week’s FX reserve data will offer more clarity.
"We look for volatile trading today, with a range of 4.5350-4.5600 for an euro, while also highlighting that the near-term outlook for RON markets is likely to be quite foggy until the dust settles."
The leu changed hands between 4.5350 and 4.5401 against the single currency during the trading session, real-time interbank FX data published by local portal Conso.ro indicated.
(1 euro=4.5179 lei)
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