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West-European Banks saving the national currencies

West-European Banks saving the national currencies

Posted by Trader On February - 23 - 2009













Central banks of Romania, Poland and Check have announced to reaching the deal as for tough cooperation and information exchange for the sake of the national currencies recovery. As the Bloomberg informs with the reference to the Romania Central Bank Secretary Mugura Izuresku, one of the points of the deal is commenting on the deviations of the currencies rates. It’s the first case of open cooperation of the West-European banks that are forecasted the greatest sequences of the crisis.

The bankers encouraged the central banks actions. “The markets seem to have at last received what they needed” = says Simon Kavadgio-Evans, a Credit Agricole Cheuvreu finance manager. As the Poland Central Bank Secretary Slavomir Skzhipek clims, the macroeconomic trends may mot lead to the considerable gold devaluation that was witnessed before.

After the West-European central banks announced about their cooperation, the West-European currencies rates have increased. Thus, on Monday, 23rd February, the Polish Zloty rose from 3,8% to 4,56% compared to Euro, Hungarian Forint has added 3,7%, and the Check Krona -3,1%.

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