A new shockwave hit the Bucharest Stock Exchange, and the RONreturned to the level at the beginning of the year on Friday, afterthe governmental officials in Budapest said at the end of last weekthat Hungary's financial situation was dramatic, thus reignitinginvestors' fears about regional expansion of the problems inGreece.
The Bucharest Stock Exchange fell by 3.07% on Friday, as a resultof the decline of foreign stock markets, after merely two sessionsof growth. The RON continued to depreciate in line with thecurrencies of the region, with rates on the interbank marketreaching 4.2190 RON/EUR. The reference rate announced by the NBR onFriday rose by 1.87 bani (100 bani - 1 RON) to 4.2051 RON/EUR, anew high after the 5th of January. CDS cost rose to 300 basepoints.
In Bucharest, political risk is fuelling investors' fears, as theGovernment is to assume responsibility before the Parliament forthe laws on austerity measures today.
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