Leu Opens Higher Vs Euro, In Line With Region

04.27.2011 By Andrei Circhelan

The Romanian leu continued for a while Wednesday the strengthening trend seen the day before against the euro, while other currencies in the region were also seeing some moderate gains.

The Romanian leu continued for a while Wednesday the strengthening trend seen the day before against the euro, while other currencies in the region were also seeing some moderate gains.

The leu opened at 4.07/4.072 to the euro, minutely stronger than 4.073/4.075 at closing the day before.

Within the first hour of trading, the leu started to weaken and, at around GMT0715, it was at 4.073/4.074 versus the European coin.

The Romanian central bank set Tuesday the leu's reference at 4.0735 to the euro, the strongest rate in 13 months.

The leu's indicative appreciated against the US dollar as well and traded at 2.7862 units, the strongest level since December 2008.

On the money market Wednesday morning, overnight rates were at 5.5%-6.5%.