Romania Leu’s Reference Hits Fresh 14-Mo High At 4.0653 Vs Euro

For the US dollar, the leu’s indicative reached 3.0453, slightly stronger from Wednesday.

Romania’s currency gained visibly against the euro over the past three days, fueled by heavy foreign currency sales. Dealers said Austrian lender Volksbank is selling euros to finance a EUR200 million capital increase at its Romanian subsidiary.

The leu opened down on the day at 4.058/4.060 against the euro and traded in narrow ranges in the first part of the session.

At around GMT1100, the leu traded at 4.064/4.066 per euro, after touching an intraday low at 4.068/4.070 per euro.

On the money market Thursday, overnight rates were at 4.1%-4.6% a year, down on the day.