Romanian Leu Opens Stronger Vs Euro, Recovers Previous Weakness

The leu opened at 4.311/4.312 against the euro, slightly stronger than 4.313/4.316 at closing Friday.

Later, the leu continued strengthening and was trading at 4.2985/4.3 for the euro around GMT0810.

Investor fears of an international debt crisis eased when EU finance ministers approved an EUR85 billion bailout package for Ireland.

The central bank set Friday a reference rate of 4.3137 for the euro, weaker than the previous reference of 4.2996.

On the money market Friday morning, overnight rates were at 3%-4% per year.