Leu Ends Stronger Vs Euro, In Line With Region

09.10.2013 By Bogdan Neagu

The Romanian leu closed higher against the euro, in line with the other currencies in the region, after a quiet session with reduced traded volumes.

The leu closed at 4.4605/4.4635 to the euro, from 4.467/4.47 to the euro at Monday close.

It had weakened in early trade, opening at 4.47/4.472 per euro, but it later gained gradually towards the 4.46 level. In the second half of the session, the leu touched the day’s high at 4.456 to the euro, before returning above 4.46 at closing time.

Banking dealers said the sentiment in the region improved as fears of a potential US intervention in Syria have eased. “Investors are more optimistic and the markets in the region benefitted,” a dealer said.

At Bucharest closing time, the Hungarian forint was gaining 0.3% against the euro, while the Polish zloty was 0.2% stronger.

The Romanian central bank set the leu’s exchange rate at 4.4653 per euro, from 4.4705 per euro Monday.

On the money market, overnight rates were stable at 2.7%-3.2% a year.