Leu Ends Down Vs Euro, Nears 4.49 Units

01.03.2014 By Bogdan Neagu

The Romanian leu traded close to 4.49 against the euro in late trade Friday, maintaining the early session losses on high euro demand.

The leu closed at 4.487/4.489 to the euro, compared to 4.472/4.474 to the euro in the last day of 2012. The market was closed on January 1 and 2 for the New Year holiday.

The local currency opened at 4.481 to the euro Friday, and gained slightly ground after the first trades, but high corporate demand for hard currency pushed the leu towards the 4.49 level.

The central bank set the leu’s exchange rate at 4.4882 per euro, weaker than 4.4847 per euro in the last trading day of 2012.

On the money market, overnight rates stayed around 1%-1.5% a year.