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Romania Leu Rises Vs Euro, Exch Rate At 4.1641

Romania’s leu widened early gains against the euro in mid trade Monday and the central bank’s reference strengthened 0.5% on the day at 4.1641 units.
Romania Leu Rises Vs Euro, Exch Rate At 4.1641
10 mai 2010, 13:22, English

Against the US dollar, the leu’s indicative gained 2.6% at 3.1976 units, from a 14-month low of 3.2851 on Friday.

The leu opened the week stronger against the euro, in line with the regional currencies, after the announcement of a EUR750 billion support plan for troubled European financial markets.

Romania’s currency opened at 4.18/4.183 per euro, from 4.187/4.188 per euro at closing Friday.

At around GMT1000, the leu traded at 4.161/4.1625 to the euro, after hitting an intraday high at 4.152/4.153 to the euro.

According to dealers, the market moved on international news, while local news–such as the IMF news conference or the external trade data, had little impact on the leu’s evolution.

Elsewhere in the region, the Polish zloty was gaining 2.8% against the euro, while Hungary’s forint was up 1.9%.

On the money market Monday, overnight rates dropped to 5.6%-6.1% a year, from 8.2%-8.7% a year Friday.