Romanian Leu Opens Down Vs Euro, Recovers Shortly After

The Romanian leu opened slightly lower versus the euro on Wednesday, but appreciated shortly afterwards, and dealers suspected an intervention of the central bank.

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The leu opened Wednesday at 4.240/4.243 to the euro, weaker from 4.237/4.239 at Tuesday's closing.

However, the leu shifted course afterwards and traded at 4.2335/4.235 versus the euro at around GMT0710, with dealers suspecting the intervention of the central bank to support the national currency.

Meanwhile, the regional currencies in the region varied slightly against the euro.

Romania's central bank set Tuesday the leu's reference at 4.2396 per euro, nearly 0.4% weaker on the day.

On the monetary market Wednesday morning, overnight rates were at 4.5%-5% a year, from 4.8%-5.3% the day before.

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