The exchange rate climbed to 4.4666 lei / euro (0.66% vs. months), passing the 4.46 lei / euro threshold for the first time in the last two months, due to increased turnover , according to dealers, who say that players rely on short-term depreciation of the leu, following the suspension of the IMF memorandum, Mediafax reports.
At the beginning of the local meeting the euro was quoted at 4.4420 - 4.4450 lei, by 0.8 to 0.95 cents (approximately 0.2%) above the levels reached Monday around 16:30, OF 4.4340 - 4.4355 lei / euro.
The lowest level traded was 4.4420 lei / euro, and then the quotations have passed the 4.46 lei / euro threshold, a level below which it declined after October 10.
The highest level traded in the first two hours was 4.4666 lei / euro, by 3.11 to 3.26 cents (0.7%) above the levels of the closing months.
At around 11:00 on the banking market, the euro was quoted at 4.4635 to 4.4640 lei, ie by 2.95 to 2.85 cents (0.66%) above the Monday levels around 16:30h.
President Traian Băsescu announced Monday evening that he decided not to approve the Memorandum with the IMF, on account of the 7 eurocents increase in fuel excise
The IMF Board will postpone the discussion of the letter of intention and the economic policies memorandum concluded with the Romanian authorities, because the documents have to be signed by the president of the country.
The Agreement is in force but the IMF Board will not discuss on its meeting of December 18, as previously scheduled, the letter of intention and the memorandum signed with the Romanian authorities, the minister delegate for the budget Liviu Voinea said.
The International Monetary Fund (IMF) announced Tuesday morning that they were expecting the Romanian authorities to decide whether they want to amend the measures necessary to reach the 2014 budget target deficit before forwarding the memorandum to the Executive Council of the institution.