Romanian Leu Moves Higher Vs Euro After Ctrl Bk’s Rate Hike

At around 10:20 GMT, the leu was trading at RON3.5100 units against the euro, stronger compared with Wednesday’s close of RON3.5315-RON3.5325.

"Following the central bank’s announcement regarding the key monetary policy rate hike, the leu strengthened to nearly RON3.51 to the euro, a dealer with a foreign bank in Bucharest said, adding the traded volumes were insignificant.

Thursday, the leu opened at RON3.5240-RON3.5270 units against the euro.

On the money market early Thursday, overnight rates were at 10.66 – 11.16% on the year.

The central bank decided in Thursday board session to raise the key monetary policy rate by 25 basis points to 10.25%, in its seventh consecutive hike since October last year.