Romanian Leu Ends Steady vs Euro in Calm Trade

Romania held parliamentary elections on Sunday and the political formations said they will initiate negotiations on the forming of a coalition government shortly, as none won absolute majority at the polls.

The upcoming post-election talks have caused uncertainty among foreign investors about Romania's political and economic future, one dealer told SeeNews.

"Trading throughout the region remained relatively quiet as markets prepared for a euro zone rate decision on Thursday," analysts with Raiffeisen Bank's local arm said in a statement. The European Central Bank said on Thursday afternoon it has lowered its benchmark rate by three quarters of a percentage point to 2.5%.

Romania's central bank, BNR, set its reference exchange rate, used for statistical purposes, at 3.8431 lei per euro on Thursday, compared to 3.8379 lei on Wednesday. For the U.S. dollar, the reference exchange rate was set at 3.0368 lei versus Wednesday's 3.0494 lei.

Interest rates on overnight leu deposits fell to an average of 12.59%/13.59% on Thursday, compared to 12.67%/13.73% on Wednesday.

Turnover on the interbank leu deposit market slightly rose to 1.454 billion lei on Wednesday from some 1.45 billion lei on Tuesday. The BNR will issue Thursday's figures on Friday.

Following are Thursday's average bid and ask quotes of commercial banks on Romania's interbank market. They were calculated at 11 a.m. (0900 GMT) by the BNR, based on data provided by 10 commercial banks (in pct):