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Romanian Ctrl Bkr: Leu To Weaken Below 10% Vs Euro In 08

The Romanian leu will weaken against the euro this year by less than 10%, heading towards the level in 2005-2006, Romania’s central bank governor Mugur Isarescu said on Tuesday.
Romanian Ctrl Bkr: Leu To Weaken Below 10% Vs Euro In 08
19 feb. 2008, 21:32, English

The average indicative rate of the leu in 2007 was of RON3.3373, after it reached RON3.5245 in 2006 and RON3.6234 in 2005 respectively.

The leu fell nearly 16% against the euro in the last six months of 2007 to RON3.6102 end-December from a five-year high of RON3.1112 in July. Since the start of this year, the leu lost more than 4% against the euro.

The leu closed at RON3.6330/6355 to the euro Tuesday, slightly stronger compared with Monday’s RON3.6370/6400.