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Biggest domestic market is picking up: forex operations climb by 13%

Autor: Liviu Chiru

11.01.2011, 00:06 16

The forex market, the biggest domestic market, last year managedto return to growth after having plummeted in 2009, with the totalvolume of operations going up by 13%, to 397bn euros, namely morethan three times the value of GDP.


The market rebound was directly tied to the spectacular leap ofexports, which last year advanced at a rate of almost 30%, doubledby imports, which also increased by around 20%. Instead, quotestability cut foreign players' appetite of betting on the RON, andthis was visible. The total 2010 operation volume is still far fromthe 465bn-euro peak registered in 2008.
"The export and import increase was visible in the rising volumesagainst 2009, but the move cannot be spectacular, as volumesgenerated by institutional players, particularly non-resident ones,are lacking. These can bring a volume and market depth increase, asit was seen in 2008," says Cosmin Bucur, head of RBS Banktreasury.

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