AGL 38.30 Increased By ▲ 0.73 (1.94%)
AIRLINK 131.90 Decreased By ▼ -0.60 (-0.45%)
BOP 5.60 Decreased By ▼ -0.04 (-0.71%)
CNERGY 3.85 Increased By ▲ 0.08 (2.12%)
DCL 8.69 Decreased By ▼ -0.18 (-2.03%)
DFML 40.82 Decreased By ▼ -0.18 (-0.44%)
DGKC 88.72 Decreased By ▼ -1.44 (-1.6%)
FCCL 35.25 Increased By ▲ 0.17 (0.48%)
FFBL 66.45 Decreased By ▼ -0.05 (-0.08%)
FFL 10.50 Increased By ▲ 0.35 (3.45%)
HUBC 109.60 Increased By ▲ 3.20 (3.01%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.83 Decreased By ▼ -0.03 (-0.62%)
KOSM 7.09 Increased By ▲ 0.24 (3.5%)
MLCF 42.50 Increased By ▲ 0.70 (1.67%)
NBP 59.49 Increased By ▲ 0.91 (1.55%)
OGDC 183.66 Increased By ▲ 2.41 (1.33%)
PAEL 25.56 Decreased By ▼ -0.14 (-0.54%)
PIBTL 5.90 Increased By ▲ 0.07 (1.2%)
PPL 147.61 Decreased By ▼ -0.79 (-0.53%)
PRL 23.55 Increased By ▲ 0.33 (1.42%)
PTC 16.46 Increased By ▲ 1.22 (8.01%)
SEARL 69.12 Increased By ▲ 0.33 (0.48%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.85 Decreased By ▼ -0.15 (-0.42%)
TPLP 7.55 Increased By ▲ 0.15 (2.03%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.90 Increased By ▲ 0.05 (0.1%)
UNITY 26.88 Increased By ▲ 0.48 (1.82%)
WTL 1.23 Increased By ▲ 0.02 (1.65%)
BR100 9,828 Increased By 60.4 (0.62%)
BR30 29,808 Increased By 407.9 (1.39%)
KSE100 92,322 Increased By 384 (0.42%)
KSE30 28,803 Increased By 59.4 (0.21%)

The leu set record lows on Monday despite expectations for robust output data from Romania, depressed by uncertainty over a likely government spending spree and continuing fraud investigations in Bucharest. Anti-corruption prosecutors opened a probe into the leader of the ruling Social Democrat Party, Liviu Dragnea, on suspicion of forming a "criminal group" to siphon off cash from state projects.
A controversial tax overhaul plan has also weighed on Romanian asset prices. The leftists' fiscal policy has been loose, including steep wage hikes which boosted Romania's inflation to a four-year high of 2.6 percent by October and led to an upwards revision in the central bank's (NBR) inflation forecast last week. It also signalled a shift in its monetary policy focus to keeping market interest rates near its benchmark rate, and said that it would be more flexible on the exchange rate. The leu set record lows and slipped further on Monday to 4.657. At 1425 GMT, it traded at 4.6553, weaker by 0.15 percent from Friday's close.

Comments

Comments are closed.