Romanian Leu Recovers Early Losses, On Weaker US Dollar

In mid-trade, the leu was traded at RON3.6850/RON3.6890 to the euro, after it touched earlier a minimum of RON3.7150/RON3.7170 against the European currency.

Before sliding due to a depreciation of the European currency, the leu opened at RON3.68/RON3.6850 against the euro, similar with Tuesday’s closing value of RON3.6820 versus euro.

“The euro slightly recovered from its loss against the dollar, leading to a similar evolution of the Romanian leu against the euro. A weaker dollar automatically means stronger emerging currencies,” a dealer with a foreign bank based in Bucharest said.

On the monetary market, overnight and weekly interest rates were at 14.03%-17.53% a year.

The central bank computed Wednesday an indicative of RON3.6829 against the euro.