Romania Leu Widens Gains Vs Euro, Exch Rate At 4.263

The Romanian leu extended early gains versus the euro in mid trade Monday and the central bank’s reference strengthened 0.2% at 4.263 units, from 4.2723 units Friday.

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Against the US dollar, the leu's indicative won 0.8% on the day at 3.3288 units.

The leu opened higher at 4.26 per euro, from 4.273/4.275 per euro Friday and further gained ground, amid a positive sentiment in the region after the European banks signed the Basel III agreement.

At around GMT1000, the leu traded at 4.261/4.264 to the euro, after hitting an intraday high at 42565/4.2585 to the euro.

On the money market Monday, overnight rates fell to 2.7%-3.2% a year, from 3.1%-3.6% a year Friday.

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