Romanian Leu Rises Vs Euro, Exch Rate Hits 13-Mo High At 4.08 Units

Publish date: 02-02-2010
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The Romanian leu edged higher against the euro in mid trade Monday and the central bank's reference gained 1% on the day at RON4.0805 to the European currency.

A stronger rate, of RON4.0720 to the euro, was computed on January 7 last year.

For the US dollar, the indicative reached RON2.9358, from RON2.9509 on Friday.

The leu opened higher on the day at RON4.1020/RON4.1050 to the euro, in line with markets in the region, and touched an intraday high at RON4.0730/RON4.0750 per euro.

At around GMT1100, the leu traded at RON4.0780/RON4.0800 per euro.

On the money market Monday morning, overnight rates were at 8.25%-8.75% a year, slightly up on the day. However, the interests dropped to 7.25%-7.75% a year shortly after the central bank announced a repo operation to boost liquidity.

The central bank pumped RON9.24 billion into the market in a seven-day repurchase agreement operation.

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