Romanian Leu Falls Vs Euro On Bad International Sentiment

The Romanian leu opened Tuesday’s session in a visibly weakened state, amid negative regional sentiment brought about by fears that Ireland’s bailout package will not stop other debt-ridden euro-zone states from plunging into crisis.

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The leu opened at 4.3 to the euro, close to Monday's closing levels, when it was trading at 4.297/4.299 to the euro.

Later, the leu started losing more ground and, around GMT0830, it traded at 4.3135/4.3145 per euro. Banking dealers linked the decline to losses in the region, brought on by fears that Portugal would be next to solicit foreign financial aid.

Romania's central bank set Monday a reference rate of 4.2957 units, slightly stronger on the day.

On the money market Tuesday, overnight rates were flat at 2%-2.5% a year.

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