“The forex market should have a trend similar with that of foreign trade. There was a negative impact from the part of government bonds against the same period of last year, when deals were influenced by the inclusion of Romanian bonds in the JP Morgan index,” stated Vlad Muscalu, chief-economist at ING Bank.
The move to include Romanian bonds in an emerging market index calculated by JP Morgan in early 2014 was an incentive for foreigners, but sums invested by these are likely to have dwindled during the year.
Bucharest foreign market still registers lackluster activity, despite foreigners’ interest in government bonds in recent months and though the national bank moved to uphold the foreign exchange rate.
The peak of forex market deals was hit in October 2008, with a daily average of EUR2.6 billion, while the lowest value, of EUR1 billion, was registered amid the financial crisis in August 2009.
(English version by Catalina Apostoiu)