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Romanian Leu Up Vs Euro, Exch Rate At RON4.2910

The Romanian leu appreciated against the euro in Friday’s mid-trade, and dealers alleged an intervention of the central bank stepped in which computed an indicative of RON4.2910 to the euro, the highest level of this week.
Romanian Leu Up Vs Euro, Exch Rate At RON4.2910
23 ian. 2009, 13:25, English

On the forex market, the leu opened at RON4.3340/RON4.3360 to the euro, slightly stronger compared with Thursday closing value at RON4.3360/RON4.3400 against the euro.

In early trades, the leu touched a high at RON4.3273 to the euro, and a low at RON4.3405 against the euro.

At around 1040 GMT, the leu rose significantly against the euro in just 15 minutes, from RON4.3350 to RON4.2955/RON4.3000 against the euro, and dealers suspect an indirect intervention of the central bank.

Considering the leu’s trend in the last days and even Friday, the central bank might have stepped into the money market to support the leu, ING Bank senior economist Alexandru Nicolae Chidesciuc said.

The leu was the sole currency in the region to appreciate against the euro until 1040 GMT, while all emerging currencies depreciated.

On the monetary market early Friday, overnight rates were at around 10%-12%.