Leu Rises Vs Euro, As Traded Volumes Surge

08.27.2014 By Bogdan Neagu

The Romanian leu rose slightly against the euro Wednesday, supported by large euro sale orders placed by non-residents, which lifted the traded volumes well above the average daily values.

The leu closed at around 4.394 to the euro, from 4.401 to the euro Tuesday, after trading between a low of 4.4 units and a high of 4.3885 units during the session.

The traded volumes were more than double the daily average, dealers said, adding most of the trades were closed in the first half of the interbank session.

Romania’s central bank set the leu’s exchange rate at 4.3941 per euro, slightly stronger than 4.3964 per euro in the previous day.

On the money market, overnight rates rose to 2.1%-2.6% a year, from 1.9%-2.4% a year Tuesday.