The NBR calculated anexchange rate of 4.1843 lei for an euro, 2.05 bani or 0.49% belowthe previous level, setting thus a new nine-month low.
In parallel, the dollar lost6.09 bani or 1.99%, going down to 2.9947 lei, the lowest levelregistered since last March. The strengthening leu against thedollar has a direct impact over fuel prices, as oil prices aredollar-denominated.
The strengthening leu isgood news as it should help dampen the shock of rising oil andfoodstuff prices internationally, where quotes have almost doubledfrom last summer. Pressures are already being felt domestically,with inflation climbing to 7.6% in February, particularly on themore expensive foodstuffs.
However, a stronger leu iscausing headaches to exporters, which should hike foreign currencycalculated prices, which would dent their competitiveness,though.
Just like in the previousleu growth episodes, the falling leu/euro rate came amid some verylow trading volumes, and dealers are unable to decide whether themove was driven by a new discreet intervention of the central bankor exclusively by private financial flows.
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