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Romanian Leu Opens Stronger Vs Euro, Recovers Previous Weakness
The Romanian leu opened Monday’s session slightly stronger against the euro, compared to Friday’s closing values, while dealers in the market suspect central bank intervention.
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Romanian Leu Opens Stronger Vs Euro, Recovers Previous Weakness
The leu opened at 4.311/4.312 against the euro, slightly stronger than 4.313/4.316 at closing Friday.
Later, the leu continued strengthening and was trading at 4.2985/4.3 for the euro around GMT0810.
Investor fears of an international debt crisis eased when EU finance ministers approved an EUR85 billion bailout package for Ireland.
The central bank set Friday a reference rate of 4.3137 for the euro, weaker than the previous reference of 4.2996.
On the money market Friday morning, overnight rates were at 3%-4% per year.
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