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FINANS DAILY |
TREASURY DIVISION
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October 31, 2005 |
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"It isn't enough for you to love money - it's also necessary that money should love you." - Baron Rothschild
FOREX MARKET
The greenback ended the week by enforcing against the euro during late trade, as the pair dropped from early levels
of 1.2170 to 1.2050, the lowest, on Monday. On Tuesday, the market will be focusing on the Federal Reserve which
is expected to increase the interest rates by another 25 bps, already priced in the USD. However, we need to watch
the wording carefully tomorrow for suggestions of when the Fed will pause as tomorrow's meeting is the 12th
consecutive hike. As regarding the euro, none of the analysts surveyed by Bloomberg recently believe that the ECB
(European Central Bank) will raise rates at Thursday's ECB meeting - but some believe that a rate hike could occur in
December. For today, we expect that the EUR/USD will range between 1.2040-1.2120 levels, if nothing
extraordinary happens.
On the Romanian forex market, we witness a clear appreciation tendency of the European currency which rallied
from 3.6110 to 3.6450 the most, at the end of the week. On Monday, the trade began at 3.6480, however pretty soon
the buyers made their appearance on the market and continued to purchase the euro until it reached the 3.6640 level,
when the buyers retreated. By noon, the EUR/RON exchange rate dropped back to the opening level of 3.6450. We
maintain our forecast of 3.7 for the EUR/RON in the coming days, as the demand for the euro is still high.
MONEY MARKET
The interest rates remained in the 0.8-1.5% area, as during the past weeks the National Bank did not organize any sterilization operation. The commercial banks expect that the NBR will increase the yields, as the population should be encouraged for saving, as otherwise there is no way the banks could finance the RON denominated loans.
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Domestic Markets Foreign Exchange Rates
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|
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NBR
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Daily Change
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Year to Date(%)
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Annualized
|
|
EUR/RON
|
3.6255
|
0.0071
|
-8.59%
|
-10.23%
|
|
USD/RON
|
2.9842
|
-0.0012
|
2.71%
|
3.26%
|
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GBP/RON
|
5.3133
|
-0.0177
|
-5.30%
|
-6.33%
|
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CHF/RON
|
2.3447
|
0.0069
|
-8.78%
|
-10.44%
|
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Interbank Market Interest Rates (%)
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|
|
ON
|
1M
|
6M
|
12M
|
|
BUBID
|
0.64%
|
1.63%
|
2.81%
|
3.09%
|
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BUBOR
|
1.94%
|
5.13%
|
6.69%
|
6.88%
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LIBOR (EUR)
|
2.09%
|
2.12%
|
2.37%
|
2.54%
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LIBOR (USD)
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3.97%
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4.08%
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4.44%
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4.67%
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Romanian Equities
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|
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Last
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Daily (%)
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|
BET
|
6,336.45
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-2.00%
|
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BET-C
|
3,753.96
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-1.86%
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BET-FI
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38,458.22
|
-1.81%
|
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RASDAQC
|
1,719.67
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-0.51%
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Romanian Bonds
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|
Maturity
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Cupon
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Price
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Daily (%)
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Yield
|
|
10-Nov-05
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11.50%
|
99.96
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-0.02%
|
12.21
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27-Jun-08
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10.63%
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118.53
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-0.02%
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3.19
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02-Jul-10
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5.75%
|
109.35
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-0.07%
|
3.53
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06-May-12
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6.50%
|
126.99
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-0.01%
|
3.74
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22-Jun-15
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4.125%
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98.09
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-0.14%
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4.37
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Romanian State Government Bonds and T-Bills
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Latest issues
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Auction Date
|
Issue Date
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Maturity Date
|
Avg. Yield
|
|
RO0508DBNI22
|
01 August 2005
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03 August 2005
|
03 August 2008
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7.60%
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RO0510DBNI36
|
08 August 2005
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10 August 2005
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10 August 2010
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7.48%
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RO0515DBN143
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15 August 2005
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17 August 2005
|
17 August 2015
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7.49%
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RO0508DBN155
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15 September 2005
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19 September 2005
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19 September 2008
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7.60%
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RO0505CTN031
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20 September 2005
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22 September 2005
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22 December 2005
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5.33%
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International Equities
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|
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Last
|
Daily Change
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Year Low
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Year High
|
|
S&P500
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1,151.74
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1.65%
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1,137.50
|
1,245.04
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DJI
|
10,402.77
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1.69%
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10,215.22
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10,414.13
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NASDAQ
|
2,089.88
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1.26%
|
2,037.47
|
2,171.75
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XETRADAX
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4,825.64
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0.36%
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4,808.16
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5,138.02
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NIKKEI 225
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13,606.50
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1.95%
|
10,825.39
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13,738.84
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International Market Exchange Rates
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CURRENCY
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Latest
|
Daily Change
|
|
EUR/USD
|
1.2062
|
-0.81%
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GBP/USD
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1.7779
|
-0.36%
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USD/CHF
|
1.2814
|
0.79%
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USD/SEK
|
7.9054
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1.12%
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USD/JPY
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115.68
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0.44%
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EUR/USD trading rate
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|
Support
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|
Resistance |
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Sup. 1
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1.2040
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Res. 1
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1.2170
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Sup. 2
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1.1980
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Res. 2
|
1.2200
|
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Sup. 3
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1.1950
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Res. 3
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1.2250
|
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Sup. 4
|
1.1920
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Res. 4
|
1.2300
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Commodities
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|
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Latest
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Daily ( %)
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GOLD
|
472.4
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-0.38%
|
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SILVER
|
7.77
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-0.64%
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OIL (BRENT)
|
59.66
|
3.02%
|
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Interest Rates for Time Deposits of Finansbank (Romania) SA
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|
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1WK
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1M
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3M
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6M
|
9M
|
12M
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Minimum Amount
|
|
USD
|
0.50%
|
3.00%
|
3.50%
|
4.25%
|
4.25%
|
4.50%
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USD 1,000
|
|
EUR
|
0.50%
|
3.00%
|
3.50%
|
4.00%
|
4.25%
|
4.25%
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EUR 1,000
|
|
RON
|
0.50%
|
4.0%
|
4.5%
|
5.0%
|
5.0%
|
5.50%
|
RON 2,000
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Released by FINANSBANK Romania S.A., Splaiul Unirii no.12, Bl. B6 040034, Bucharest. For further information please contact Melania Hancila Treasury & Capital Markets Division, Phone 301 73 42, Fax 318 09 61.
Disclaimer: This report does not represent an investment advice and should not be construed as a recommendation to invest in any kind of investment vehicle. The information in the report is based on sources available to the public and believed to be reliable, and there is no claim that is accurate or complete. Thereafter this information can be changed without notice.
Publicat de FINANSBANK Romania S.A., Splaiul Unirii nr.12, Bl. B6 040034, Bucuresti. Pentru mai multe informatii si intrebari, va rugam contactati Departamentul Trezorerie si Piete de capital - Melania Hancila, Telefon: 301 73 42, Fax: 318 09 61.
Acest buletin are scop informativ si nu reprezinta un sfat sau recomandare de a investi in nici un tip de instrument. Informatiile care stau la baza acestui raport zilnic au o sursa publica, considerata sigura insa, nu sustinem ca este completa. Astfel ca informatiile publicate mai sus se pot schimba fara un anunt prealabil.
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