Leu Ends Around 4.46 Vs Euro After Quiet Trade

12.27.2013 By Bogdan Neagu

The Romanian leu closed Friday near 4.46 against the euro, in a quiet market with low transferred volumes.

The leu recouped this week the losses registered in the previous week, when the leu traded above 4.48 versus the euro, as corporate demand for hard currency was increasing.

In the Tuesday session, the leu traded below 4.47 units, and Friday, after the two-day break for Christmas, the local currency gained further.

The leu opened at 4.456/4.459 to the euro, stronger than 4.464/4.466 to the euro at Tuesday close. It touched the day’s high at 4.455 units, before returning near the 4.46 mark towards the closing of the local trading.

At 16:30 local time (GMT1430), the leu traded at 4.458/4.4615 per euro, slightly weaker than in early trade.

Romania’s central bank set the leu’s exchange rate at 4.4597 per euro, about 0.1% stronger than Tuesday.

On the money market, overnight rates were flat on the day at 1.6%-2.1% a year.