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Romanian Leu Up Vs Euro, Exch Rate Hits New 14-Mo Peak At 4.0716

The Romanian leu extended early gains against the euro in mid trade Wednesday and the central bank’s reference strengthened to 4.0716 units, a fresh 14-month peak.
Romanian Leu Up Vs Euro, Exch Rate Hits New 14-Mo Peak At 4.0716
24 mart. 2010, 13:49, English

A stronger rate, of 4.0629 units per euro, was set on January 6, 2009. The exchange rate advanced for the second day in a row, after it broke through the level of 4.08 per euro on Tuesday.

For the US dollar, the leu’s indicative reached 3.0469, down over 1% from 3.0144 Tuesday.

The leu traded in narrow ranges in early session Wednesday, unlike its peers in the region which retreated slightly on renewed concerns about the situation in Greece.

It opened flat at 4.072/4.074 versus the euro and afterward it gained to an intraday high at 4.069 per euro.

At around GMT1100, the leu traded at 4.0695/4.0720 per euro.

On the money market Wednesday, overnight rates rose to 5%-5.4% a year, from 2.8%-3.3% a year a day earlier, as lenders start to build up new minimum reserves required by the central bank.