Romanian central bank extends more funds under repo deals.

By bne IntelliNews January 29, 2013
Romanias central bank extended RON 9bn (over EUR 2bn) in this weeks repo auction, up from RON 6bn in each of the previous two weeks and RON 4bn in each sale in the November-December period, according to data of the monetary authority. The instrument was indicated by central bank officials as more effective in terms of exchange rate management than the policy interest rate. The move could thus be interpreted as an attempt to moderate the excessive local currency strengthening in the first weeks of this year driven by the decrease of foreign investors risk aversion.
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