Romania Leu Hovers Above RON4.3 Vs Euro, Exch Rate Hits 8-1/2 Months Low

The Romanian leu has lost its slight gains versus the euro in mid trade Thursday, tracking regional markets, while the central bank’s reference broke through the psychological ceiling of 4.3 units per euro for the first time in the past eight and a half months.

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The leu's indicative reached 4.3079 units to the euro, down 0.2% on the day. Romania's currency widened its losses against the US dollar as well, as the indicative lost 0.42% on the day at 2.9197 units.

The leu started to lose ground against the euro fast on international markets after the local trading closed on Wednesday evening, touching a low of 4.33 units per euro.

In Romania, dealers suspect the central bank has stepped in and sold hard currency to support the leu.

On Thursday, the leu opened down on the day at 4.3125/75 units to the euro, in line with currencies in the region, but managed to reverse trend for a short while and hit an intraday high at 4.306 units against the euro.

At around GMT1000, the leu traded at 4.31/4.311 per euro.

On the money market Thursday, overnight rates were at 9.75%-10.25%, up on the day.

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