Romanian Leu Extends Gains Vs Euro, Exch Rate Hits 2-Mo High At RON4.2496

Romanian leu widened its gains against the euro in mid trade amid growing hard currency sales from foreign players, with the central bank’s reference touching a two-month high at RON4.2486 per euro.

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A stronger rate was set on October 1, at RON4.2495 per euro.

Against the US dollar, the central bank's indicative gained 0.84% on the day at RON2.8157.

The leu opened stronger against the euro Wednesday and amid positive sentiment of foreign investors.

Romania's currency opened at RON4.2520/RON4.2550 against the euro and hit an intraday high at RON4.2490/RON4.2520 to the euro.

Subsequent commercial flows and profit taking have led the pair to RON4.2575/RON4.2590 per euro, a movement attuned to the regional markets.

At around GMT1100, the leu returned to gains and traded at RON4.2480/RON4.2530 per euro.

On the money market Wednesday, overnight rates were at 8.17%-8.67% a year, down on the day.

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