Leu Falls In Early Trade, On High Euro Demand

12.17.2013 By Bogdan Neagu

The Romanian leu lost ground against the euro in early trade Tuesday, on high demand for hard currency, dealers said.

The leu opened at 4.46 to the euro, from 4.455/4.458 to the euro at Monday close.

It further lost ground towards an early low at 4.465 to the euro. At around 10:30 local time (GMT0830), the leu traded at 4.463/4.466 to the euro

Romania’s central bank set Monday the leu’s exchange rate at 4.4537 per euro, from 4.4552 per euro in the previous session.

On the money market Tuesday morning, overnight rates were stable at 0.8%-1.3% a year