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Romanian Leu Hits All Time Low Vs Euro In Early Trade Friday

The Romanian leu opened lower against the euro on Friday and reached an all time low on the forex market at RON4.2050 to the euro, dealers said.
Romanian Leu Hits All Time Low Vs Euro In Early Trade Friday
09 ian. 2009, 11:02, English

The leu opened at RON4.1800/RON4.1830 against the euro, lower compared with RON4.1740/RON4.1780 to the euro at the end of Thursday’s trading session, when it touched a historical low.

"The leu continues its downward trend against the euro,mirroring emerging markets, and traded volumes are within the average of the sessions in the last two months," said a dealer with a Bucharest-based bank.

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.

The currency’s downward trend was not influenced by the higher interest rates on the monetary market that grew to 12%-14% a year, after fluctuating between 10% and 12% on the year on Thursday.