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Romanian Leu Indicative Rate Hits All-Time Low Vs Euro, At RON4.2127

The Romanian leu continued its downward trend versus the European currency on Friday and the central bank computed an indicative of RON4.2127 to the euro, the currency's all-time low since euro introduction in 1999.
Romanian Leu Indicative Rate Hits All-Time Low Vs Euro, At RON4.2127
09 ian. 2009, 13:18, English

The Romanian currency has fallen sharply since the beginning of the year, on regional negative sentiment, dealers said.

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.

Around 1105 GMT, the leu was traded at RON4.2230/RON4.2250, its weakest level on the day.

Romanian analysts think that any central bank intervention to support the Romanian leu would have limited and short-time effects, given investors’ negative sentiment on the region, and the leu will continue to depreciate in the upcoming period.