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ING: the leu could resume the recent tendency of strengthening


The leu could resume the tendency of strengthening, following the results to the elections at the end of the week, after floating in a narrow interval about 4.41 lei/euro on Friday, consider the economistsfrom ING Bank Romania in a report.


An important victory ( 37% preliminary result, on the basis of the counting of 93% of the votes) for the socialist governing officials at the elections for the European Parliament suggest that we could expect political stability before presidential elections in November. However, even if this favours possible advances of the leu, similar movements will be probably limited today ( Monday ) in the context of a calm day, with the markets in the UK and the US on holiday’ the report of the bank says.


At the same time, the economists ING Bank Romania stated that they expected that the ministry of finances sell the planned sum of 800 million lei at a maximum yield around 2.60% slightly under the superior quotation on the secondary market for a similar instrument, similar result with the one in the previous bid for bonds on short term one month before.