Leu Falls Vs Euro On Low Volumes

12.24.2014 By Bogdan Neagu

The Romanian leu continued its depreciation against the euro at the start of Wednesday session, but the traded volumes were reduced as many European markets are closed for Christmas holidays.

The leu opened at 4.477/4.484 to the euro, a large interval around the level of 4.48 to the euro in late trade Tuesday.

The local currency then extended its loss, and reached an early low at 4.487 per euro, following a significant sale order. But as next orders were rather low, the leu recouped slightly to 4.4825/4.484 units.

Tuesday, the central bank set the leu’s exchange rate at 4.4758 per euro, the weakest in the past 7 days.

On the money market Wednesday morning, overnight rates rose to 0.26%-0.73% a year, from 0.06%-0.51% yesterday.