Romania's leu sinks to 3.7695 against euro, drops to the lowest in three years

Publish date: 25-01-2008
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Romania's leu dipped 0.16 percent to 3.7695 against the single European currency, on a market which saw heavy foreign currency buying in the first part of the day, followed by the leu's increase once the euro dropped against the U.S. dollar.

The reference exchange rate posted by the central bank (BNR) on Thursday stood at 3.7635 lei per euro. The leu dropped from 3.7500 to 3.7709 against euro in the first four hours of trading after which the leu gained ground to 3.7420 and stood between 3.7540 and 3.7590 at 2:20 p.m.

"After 1 p.m. the market backed off and the leu hiked against euro while the euro decreased against the U.S. dollar on international markets," chief dealer of Banca Transilvania Ioan Birle said.

The exchange rate posted by the central bank shows a 0.16 percent decrease of the leu against euro, dropping to a three-year low.

On international markets the U.S. dollar fluctuated from 1.4592 to 1.4638 against euro. It hiked suddenly to 1.4690 after 12:30 p.m., Romania's hour.

The leu gained 0.15 percent against the U.S. dollar, rising from 2.5811 to 2.5773.

The interbank interest rates for overnight deposits climbed close to the monetary policy interest of 8 percent per year, after BNR balanced the high liquidity on the market.


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