Last year, transactions conducted on the
In comparison, transactions conducted on the Bucharest Stock Exchange amounted to just 5 billion euros. Operations performed on the forex market were around 3 times as high as
The bulk of trading on the
The bulk of the transactions with foreign clients are forex swaps," estimates Bogdan Mihoc, head of UniCredit Tiriac Bank's treasury. However, the NBR does not breakdown forex market data.
Through swap transactions, players can more easily match their positions for various currencies, i.e. cover their deficit or invest the excess sum. Since these operations entail both the sale and purchase of foreign currency, upon registration, they generate an artificial doubling of volumes. Sums that involve local companies are worth millions of euros at the most, while transactions that involve foreign clients are in the range of several hundreds of millions of euros.