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Romania Leu Moves Higher Vs Euro, Unlike Neighbors

Romania’s leu edged higher against the euro in late trade Wednesday, amid average volumes, with dealers suspecting yet another intervention in the market from the central bank to support the national currency.

Florentina Dragu · 23 noiembrie 2011 · 1 min de citit

The leu closed at 4.354/4.355 per euro, from 4.3585/4.361 per euro a day earlier.

Elsewhere in the region, the leu’s peers were falling versus the euro, after Germany failed to sell a planned EUR6 billion in 10-year bonds.

The Europe’s largest economy sold EUR3.6 billion in state paper earlier Wednesday at a 1.98% annual yield, a level many investors believed it was too low. The remaining bonds were purchased by the country’s central bank Bundesbank.

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