Leu Falls Vs Euro Amid Higher Volumes

05.18.2011 By Florentina Dragu

Romania’s leu continued to retreat versus the euro in late trade Wednesday and closed 0.4% weaker on the day, amid higher volumes and growing concerns over a possible dissolvement of the ruling coalition.

The leu closed at 4.127/4.128 per euro, from 4.11/4.112 per euro Tuesday.

Elsewhere in the region, the Polish zloty was flat against the euro, while the Hungary's forint was down 0.5% on the day.

The leu opened slightly up at 4.108/4.111 per euro and hit an early high at 4.1075 per euro. It later reversed trend, touching the day's low at 4.128 to the euro in the afternoon.

The central bank set the leu's reference at 4.1184 per euro, 0.3% weaker on the day.

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