Leu Loses 1.2% In 2013, Exchange Rate At 4.4847 Vs Euro On Dec 31

12.31.2013 By Bogdan Neagu

The Romanian central bank set the leu’s exchange rate at 4.4847 against the euro Tuesday, the final trading day of 2013, reflecting a 1.2% loss for the entire year.

In the last day of 2012, the leu’s exchange rate was at 4.4287.

During the year, the leu’s reference varied between 4.3072 per euro in early May and 4.5535 per euro on June 7.

On Tuesday alone, the leu weakened by almost 0.5%, as the local currency traded around 4.485 per euro by midday before returning towards 4.47 units in later trades.

Against the US dollar, the leu reference gained some 3% in 2013, from 3.3575 units on December 31, 2012 to 3.2551 units on Tuesday.

The leu gained slightly against the Swiss franc as well. The last rate for 2013, of 3.6546 units is 0.36% stronger on the year.

The leu rates versus the US dollar and the Swiss franc are computed by the central bank considering the leu’s variation against the euro and the international quotations for USD/EUR and USD/CHF.

On the monetary market Tuesday, overnight rates were at 1.25%-1.75% a year, considerably below the central bank’s key rate of 4%.