Leu Stays Around 4.43 Vs Euro, On Low Volumes

10.22.2013 By Bogdan Neagu

The Romanian leu traded for a short time below 4.43 to the euro Tuesday morning, but soon returned above the level in a quiet trade with low transferred volumes.

The leu opened at 4.43 to the euro, stronger than 4.4335/4.4355 to the euro at Monday close.

After the first transfers, the leu gained towards 4.426/4.427 to the euro, but it soon lost its early gains. At around 10:30 local time (GMT0730), the leu traded at 4.4315/4.4335 to the euro.

The Romanian central bank set Monday the leu’s exchange rate at 4.4478 per euro, from 4.4514 per euro in the previous session.

On the money market Tuesday morning, overnight rates fell to 1%-1.5% a year, from 1.2%-1.7% a year the day before.