On Friday (Sept 23), the national currency stood at 5.0679 units versus the dollar and on Thursday (Sept 22), the leu was trading at 5.0103 to the dollar.
The upward trend of the US dollar is due to the evolution of the foreign exchange markets. On the international market, the dollar soared to a fresh two-decade high after the Federal Reserve raised interest rates by another 75 basis points, as expected, and signaled more large increases at its upcoming meetings. The Fed’s new projections showed its policy rate rising to 4.4% by the end of 2022, before peaking at 4.6% in 2023 to curb uncomfortably high inflation. Rate cuts are not expected until 2024.
Instead, the euro depreciated slightly on Monday, with the central bank average reference rate standing at 4.9427 lei to the euro, from 4.9437 lei per euro on Friday.
Also, the leu touched 5.4791 units against the British pound on Monday, from 5.6284 units on Friday.