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Romanian Leu Touches Historic Low Vs Euro

The Romanian leu depreciated strongly on Thursday, in a volatile trading session, and touched its all-time low at RON4.18 versus the euro at the end of the session.
Romanian Leu Touches Historic Low Vs Euro
08 ian. 2009, 18:33, English

The leu closed Thursday at RON4.1740/RON4.1780 to the euro, more than 1% weaker than  Wednesday’s closing value of RON4.1210/RON4.1260 to the euro.
 
According to dealers, the previous minimum level hit by the leu was at RON4.1635 against the euro, on January 7, 2004.
 
“The high euro buyout orders of foreign players took the quotations that high and the leu will continue to lose ground in the absence of some positive data or unless the central bank steps in,” a banking dealer said.
 
During the session, the leu levels varied between RON4.1150/RON4.1180 and RON4.1770/RON4.18.
 
The central bank computed Thursday an indicative of RON4.1385 to the euro, close to its historic minimum of RON4.1438 to the euro, set on January 6, 2004.