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Romanian Leu Dn Vs Euro On High Commercial Demand

The Romanian leu depreciated against the euro in Tuesday’s late trades, contrary to the regional trend, due to a high euro demand from investors who marked part of their profits.
Bogdan NeaguMihai Draghici
31 mart. 2009, 17:23, Economic

The leu closed at RON4.2390/RON4.2415 versus euro, weaker compared with Monday’s closing value of RON4.2235/RON4.2250 to the euro.

“There was a commercial pressure, Romanian companies saw a proper moment to buy euros. Foreign players were also part of this movement as they preferred to mark their profits and not risk a comeback on higher euro levels. On the other hand, in Monday’s trading session, the region followed a descending trend, but the leu was appreciated, so several investors considered it an intervention”, a dealer said.

The central bank computed an exchange rate of RON4.2348 to the euro.

On the monetary market, overnight rates were at 9.56% – 10.06% on the year, while weekly rates at 9.96% – 10.6% a year.