Leu Weakens Vs Euro, Closes Above 4.47 Units

12.30.2013 By Bogdan Neagu

The Romanian leu slid in late trade Monday and closed above 4.47 against the euro, on increased corporate demand for hard currency.

The leu closed at 4.471/4.474 to the euro, from 4.458/4.4615 to the euro at Friday close. It had opened at 4.46 to the euro, but gradually weakened during the session.

The central bank set the leu’s exchange rate at 4.4639 per euro, from 4.4597 per euro on Friday.

On the money market, overnight rates were down to 1.2%-1.7% a year, from 1.6%-2.1% a year in the previous session.