Leu Weakens Vs Euro, Trades Above 4.435 Units

10.23.2013 By Bogdan Neagu

The Romanian leu weakened Wednesday morning, trading above 4.435 against the euro, as risk aversion intensified on international markets.

The leu opened at 4.425/4.427 to the euro, similar to Tuesday closing levels, but it gradually lost ground, reaching 4.435/4.437 to the euro at around 10:30 local time (GMT0730)

Romania’s central bank set Tuesday the leu’s exchange rate at 4.437 per euro, about 0.25% stronger on the day.

On the money market Wednesday morning, overnight rates inched lower to 0.9%-1.4% a year.