Romanian Leu Up Vs Euro, Exch Rate At 4.2571

Romania’s leu strengthened against the euro in mid trade Friday, fueled by higher volumes, and the central bank’s reference gained over 0.2% on the day at 4.271 units, from 4.2675 units Thursday.

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Against the US dollar, the leu's indicative firmed for the ninth consecutive session to 3.1008 units, from 3.1079 units a day earlier.

The leu opened slightly higher at 4.2645/4.267 per euro, from 4.266/4.267 per euro at Thursday's closing and hovered below 4.27 per euro throughout the morning, amid a quiet market.

It later gained ground and at around GMT1100 it traded at 4.257/4.2585 to the euro, with dealers suspecting a covert intervention from the central bank to firm the national currency.

"Another theory is that one of the local banks plans to increase its share capital," said one dealer.

On the money market Friday, overnight rates rose to 3.8%-4.3% a year, from 3.1%-3.6% a year Thursday.

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