Leu Opens Stronger Vs Euro, In A Quiet Market

04.29.2011 By Andrei Circhelan

The Romanian leu opened Friday stronger against the euro, while other currencies in the region were stable, on low traded volumes.

The Romanian leu opened Friday stronger against the euro, while other currencies in the region were stable, on low traded volumes.

The leu opened at 4.076/4.077 versus the euro, higher than 4.079/4.081 at closing the day before.

Within the first hour of activity, the leu continued to gain ground versus the European coin and, at around GMT0710, it was trading at 4.074/4.075 to the euro.

The central bank set Thursday the leu's reference at 4.076 per euro, slightly stronger from 4.0767 per euro Wednesday.

Against the US dollar, the leu's indicative gained 1.2% on the day at 2.7449 units, a new record high since December 2008.

On the money market, overnight rates were at 5.25%-5.75% a year.