Leu rallies to 14-month high

The national currency strengthened Thursday the most since January 7, 2009 against euro, to a reference rate of 4.0801 units/euro, down 0.05% from Wednesday, after a rallying in the morning to below 4.08 units/euro. The leu had another winning day against its European counterpart Thursday, trading below the 4.08 units/euro, in line with other currencies in the region. "The leu's upward trend is clearly correlated with its peers' in the region that recorded strong gains lately against euro. However, the leu's growth was more modest than in other markets in the region", a dealer told NewsIn.

For the US dollar, the National Bank of Romania set a reference rate of 2.9817 lei/US dollar, up 0.74% from Wednesday's rate.