Biggest domestic market is picking up: forex operations climb by 13%
The forex market, the biggest domestic market, last year managed to return to growth after having plummeted in 2009, with the total volume of operations going up by 13%, to 397bn euros, namely more than three times the value of GDP.
The market rebound was directly tied to the spectacular leap of
exports, which last year advanced at a rate of almost 30%, doubled
by imports, which also increased by around 20%. Instead, quote
stability cut foreign players' appetite of betting on the RON, and
this was visible. The total 2010 operation volume is still far from
the 465bn-euro peak registered in 2008.
"The export and import increase was visible in the rising volumes
against 2009, but the move cannot be spectacular, as volumes
generated by institutional players, particularly non-resident ones,
are lacking. These can bring a volume and market depth increase, as
it was seen in 2008," says Cosmin Bucur, head of RBS Bank
treasury.