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Romanian Leu’s Exch Rate Hits A Fresh Historic Low Vs Euro, At RON4.2684

Romanian leu continued its downward trend on Monday and the central bank computed an indicative of RON4.2684 to the euro, a fresh all-time low against the euro.
Romanian Leu’s Exch Rate Hits A Fresh Historic Low Vs Euro, At RON4.2684
12 ian. 2009, 13:17, English

In 2009, the leu fell sharply, losing around six percent since the beginning of the year, on regional negative sentiment.

On the inter-bank market, the leu opened at RON4.2470/RON4.2520 against the euro, weaker than RON4.2230/RON4.2300 to the euro at the end of Friday’s trading session.

Then, the leu continued to depreciate against the euro, and touched a new low at RON4.2700 /RON4.2725 versus the euro, dealers said.

Romanian analysts think that any central bank’s intervention to support the Romanian leu would have limited and short-time effects, given investors’ negative sentiment on the region, and the leu will continue to depreciate in the upcoming period.