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Romanian Leu Opens Higher Vs Euro In Line With Region

The Romanian leu opened higher against the euro Monday, following the trend of currencies on emerging markets, due to the positive trend of European stock markets.
Romanian Leu Opens Higher Vs Euro In Line With Region
23 feb. 2009, 11:03, English

The leu opened at RON4.2720/RON4.2750 against the euro, up from Friday’s closing value, and touched an early high at RON4.2700, as European bourses rose on news that the US government may increase its stake in Citigroup.

Then, at around GMT0815, the leu was trading at RON4.2775/RON4.2825 against the euro.

The leu closed at RON4.2850/RON4.2900 against the euro Friday, weaker compared with Thursday’s closing value at RON4.2680/RON4.2720 against the euro.

The central bank computed a daily indicative of RON4.2797 to the euro Friday, lower than Thursday, after three consecutive days of appreciations versus euro.

On the money market Monday, overnight rates were at 10%-12% a year.