Romania's leu soars below 4.26 over the euro on optimism generated by accord with the IMF

The leu started out at 4.28 this morning and advanced constantly throughout the day to 4.2573 against the euro. At 5:13 p.m. banks were buying the euro for 4.2533 and selling it to 4.2633.

However, in the region the Hungarian forint lost ground from 300 to 304.8 over the euro and then camped at 302 and Polish zloty advanced from 4.58 to 4.54 only to fall to 4.5650 over the euro.

The central bank’s reference exchange slipped to 4.2723 lei per euro and of 3.1474 per American dollar.

On the international markets the dollar waved around 1.3580 over the euro and then stopped at 1.3522.

Interbank interests for overnight deposits slipped to 13 percent. 

The IMF yesterday closed the agreement with Romania, lending it almost 13 billion euros. Other 7 billion euros will come from the European Commission, the World Bank and other lenders in Europe.
After the official news was out, the leu surged from close to 4.30 to 4.27.