Leu's Exchange Rate Hits Fresh 17-Month Low Of 4.3608 Vs Euro

11.21.2011 By Florentina Dragu

Romania’s leu traded in narrow ranges against the euro by midday Monday, while the central bank’s reference weakened to a new 17-month low of 4.3608 units, from 4.3598 units in the previous session.

Against the US dollar, the leu's indicative lost 0.5% on the day to 3.2425 units.

The leu opened at 4.362/4.365 per euro, from 4.365/4.3665 per euro at Friday's closing, and traded near 4.36 per euro for the first half of the session.

At around 13:00 hours, the leu traded at 4.362/4.363 to the euro.

On the money market, overnight rates fell to 5.7%-6.2% a year, from 7.1%-7.6% a year Friday. The central bank pumped RON6.25 billion into the market Monday morning to boost liquidity and lower the rates.