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Romanian Leu Exch Rate Plunges To 4-Yr Low, At RON3.9530 Vs Euro

The Romanian leu depreciated against the euro during the Thursday trading session, and the central bank computed an indicative of RON3.9530 to the euro, a four-year low.
Romanian Leu Exch Rate Plunges To 4-Yr Low, At RON3.9530 Vs Euro
18 dec. 2008, 14:01, English

A higher value was computed on November 24, 2004, when the exchange rate was set at RON3.9555 to the euro.

On the forex market, the leu opened at RON3.9570/RON3.9620 against the euro, slightly lower from Wednesday’s closing value, and touched an early low at RON3.9750/RON3.9780 to the euro.

Around 1045 GMT, the central bank stepped into the market to support the leu, dealers said. As a result, the Romanian currency appreciated towards RON3.9520/RON3.9550 to the euro.

But afterwards, the leu continued to fall, being traded at RON3.9700/RON3.9740 versus the euro.

On the money market Thursday, overnight rates were at 10.21%-10.72% on the year, while weekly rates were at 11.63%-12.41% on the year.