Leu Strenghtens Vs Euro, Amid Market Apathy

05.27.2011 By Andrei Cîrchelan

The Romanian leu gained slightly against the euro in early trade Friday, amid market apathy, in sync with other currencies in the region.

The leu opened at 4.129/4.131 to the euro, very close to 4.128/4.1305 at closing the day before.

Later, the leu started gaining ground, reaching an early high at 4.124/4.126 against the euro, and at around 10:10 am (GMT0730) it was trading at 4.1255/4.1275 units.

The central bank set Thursday the leu's reference at 4.1333 units, the weakest level since the beginning of April.

On the money market, overnight rates rose to 4.25%-4.75%, from 4%-4.5%.