English• Exchange rate and Stock Exchange decline amid following turbulence on U.S., Chinese markets
Stocks listed on the Bucharest Stock Exchange (BSE) lost 3% yesterday, while the national currently depreciated to 4.2372 RON/EUR, amid influences from international markets. The BSE closed in the red yesterday for the fourth consecutive day. All indices lost over 3%, while the Romanian currency reached the lowest level in the last six weeks.
Analysts say that these negative fluctuations were not caused by domestic factors, but by the decline of U.S. and Chinese markets.
Beyond analyses, some players also rely on hunches. In their opinion, Mugur Isarescu"s reconfirmation as Governor of the National Bank of Romania for another term would cause the EUR to go up to 4.4 RON. This, however, should not be interpreted as a suggestion meant to influence the market or their speculative decisions.
Vlad Muscalu, an economist with ING, told BURSA: "The Governor of the National Bank is an important decision factor. His potential replacement could also bring changes to the exchange rate policy. However, the presidential elections can be even more influential, as they will cause uncertainty, leaving players not knowing what to expect.
Euro
Dolar SUA
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Liră sterlină
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