In this study, the effects of maternal physical activity level on several fetal haemodynamic parameters such as pulsatility index of the fetal middle cerebral and umbilical arteries and cerebral-to-fetal ratio, as well as on fetal heart rate responses to one bout of moderate exercise (20 min cycle-ergometry at approximately 60% of age-predicted maximum heart rate) during the third pregnancy trimester were assessed. 26 Sedentary and 26 physically active gravidae aged 29 (3) and 30 (2) years, respectively, were studied. Maternal exercise did not have a deleterious effect on fetal haemodynamics (particularly, cerebral-to-fetal ratio remained within normal limits with exercise). Overall, maternal training status did not influence the fetal cardiovascular variables studied.