October 28 (SeeNews) - The Romanian leu on Wednesday weakened beyond the 4.3-per-euro mark as concerns over a 20 billion euro ($29.58 billion) aid programme led by the International Monetary Fund (IMF) and political uncertainty put pressure on the market, dealers said.
The leu ended at 4.3040/3080 per euro, compared to 4.2880/2930 per euro on Tuesday.
A mission from the IMF, the European Union and the World bank will be in Bucharest through November 9 for the second review of Romania's economic performance under its stand-by arrangement with the three international organisations. Initially, the IMF had decided to postpone the visit, scheduled to begin on October 21, after the country’s minority government fell in a no-confidence vote.
The Romanian currency opened at 4.2960/2990 per euro and traded in low volumes, with mostly local players on the market, one dealer told SeeNews.
Romania’s central bank, BNR, set its reference exchange rate at 4.2995 per euro on Wednesday, compared to 4.2897 per euro on Tuesday. For the U.S. dollar, the BNR set its reference exchange rate at 2.9074 versus Tuesday’s 2.8803.
Turnover on the interbank leu deposit market fell to 1.853 billion lei on Tuesday from 1.923 billion lei on Monday. The BNR will issue Wednesday’s turnover figures on Thursday.
Interest rates on overnight leu deposits fell to 9.41%/9.91% on Wednesday from 9.43%/9.93% on Tuesday.