BNR exchange rate, May 26, 2023. At the BNR rate on Thursday, the European currency had a negative variation compared to the previous day, being quoted at 4.9578 lei. On the other hand, the American dollar had a positive variation as well, being counted at 4.6192 lei. European markets closed lower amid macroeconomic pessimism, while global markets stumbled slightly. It remains to be seen what will happen at the end of today.
European shares fell on Thursday, with investors already on alert
European shares fell on Thursday as concerns over the US debt ceiling impasse and a slowing global economy resurfaced and outweighed initial optimism fueled by positive corporate results, while luxury stocks steadied after a sharp fall .
The pan-European STOXX 600 closed down 0.3 percent, losing about 2.7 percent in three straight days, dragged down by recent losses in luxury shares and a lack of progress on talks to raise the U.S. debt ceiling and avoiding a situation of insolvency.
European shares came under strong selling pressure this week as investors worried about a possible US debt default and strong UK inflation after a solid earnings season sent several regional bourses to record highs records.
The exchange rate of the day. What is happening today with the main currencies
Today we have a new BNR exchange rate, and we will see after 13:00 what happens to the Euro and the Russian ruble, in the context of the current economic-geo-political situation.
The new BNR CURS is the one published at today’s rate, after 1:00 p.m.
BNR exchange rate for May 26, 2023: Euro
1 euro = Lei ( Lei)
One euro has the exchange rate presented at the value of Lei, along with a negative variation of Lei.
BNR exchange rate for May 26, 2023: Dollar
1 dollar = Lei (Lei)
One dollar has the rate presented at the value of Lei, along with a positive variation of Lei.
NBR exchange rate for May 26, 2023: Pound sterling
1 lira = Lei (Lei)
A pound sterling has the exchange rate shown at the value of Lei, along with the positive variation of Lei.
“Luxury stocks can weather a recession”
Declines in energy stocks weighed the most on lower crude oil prices, while luxury majors took a break and helped stave off bigger losses in the STOXX 600.
“Luxury stocks can withstand a downturn because high net worth individuals tend to buy them…
So, if the stock goes deeper, I would see that as a potential value buy,” said Giles Coghlan, chief market analyst at HYCM.
Next, the technology sector was the top performer, thanks to a boost from European chipmakers after the world’s most valuable chipmaker, Nvidia Corp, forecast quarterly revenue more than 50% above estimates and said that is increasing its supply to meet growing demand for its artificial intelligence chips.
Shares in BE Semiconductor climbed 7.6 percent, while ASM International rose 8.6 percent and ASML Holdings added 5 percent. Analysts at Bank of America see both ASM and ASML as beneficiaries of increased AI adoption.
Read also: Russia and the cost of the invasion of Ukraine: the ruble has become worthless paper
NBR exchange rate for May 26, 2023: Russian ruble
1 ruble = Lei (Lei)
A ruble has the exchange rate presented at the value of Lei, along with the positive variation of Lei.
The ROBOR index established by the BNR on May 26, 2023
According to the official data published by the BNR, the ROBOR Index remained low compared to the previous day, as follows:
- ROBOR index at one month: 6.12
- ROBOR index at three months: 6.55
- Six-month ROBOR index: 6.66
- Twelve-month ROBOR index: 6.86
