Romanian Leu Further Gains Vs Euro, Mirrors Emerging Mkts

The leu closed at RON3.5715 to the euro Tuesday, up from RON3.5910/3.5930 at Monday’s closing. 

The Romanian leu opened slightly higher against the euro Tuesday, at RON3.5860/RON3.5880 to the euro. It touched a day’s high at RON3.5650 against the euro in end-trade.

"The leu further gained against the euro, mirroring the emerging markets. Several foreign investors placed many foreign currency-buying orders in the second part of the trade, strengthening the leu.

Thus, the traded volumes were over the average of a usual trade," a dealer said.

On the money market, overnight rates were at 9.58% – 10.08% on the year.

The central bank computed an indicative daily average rate of the leu at RON3.5934 to the euro, touching a two-and-a-half-month high, and RON2.2861 against the US dollar.