The forex market boomed in June and witnessed a new record volume of transactions, which overshot the 30 billion-euro mark after coming under pressure from inflows of speculative capital attracted by the still high interest rates, particularly during periods of RON liquidity shortages. The effect on the exchange rate - the RON managed to see an over 8% nominal appreciation against the euro from the beginning of the year, thus exceeding all expectations on the market. Since the beginning of this year, the volume of transactions in foreign currency has made leaps of five to six billion euros from one month to the next, with the monthly volume almost double last year's average volume, which reflects the quantitative leap witnessed in autumn, following the change in the status of the RON, to a fully convertible currency. Domestic dealers are now talking about substantial fund inflows coming from foreign traders who cannot place Romania on the map, but are familiar with the substantial interests rates being witnessed on the domestic market.
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