Romanian Leu Widens Gains Vs Euro, Exch Rate At 4.2643

Romania’s leu extended early gains versus the euro in mid trade Thursday, after the Government survived a no-confidence vote in Parliament a day earlier, and the central bank’s reference strengthened over 0.4% on the day to 4.2643 units.

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Wednesday, the central bank computed a reference rate of the leu of 4.2819 per euro.

Against the US dollar, the leu's indicative stood at 3.0814 units Thursday, 0.4% stronger on the day.

The leu opened stronger at 4.268/4.27 per euro, from 4.273/4.2745 per euro at Wednesday's closing and further gained ground, hitting an intraday high at 4.2625 per euro.

At around GMT1000, the leu traded at 4.263/4.265 to the European common currency.

According to dealers, speculators attempt to push the leu to below 4.26 per euro to make profit, given that trade volumes are very low.

On the money market Thursday, overnight rates were flat at 3.2%-3.7% a year.

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