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Romanian Leu In Ranges Vs Euro, Exchange Rate At 4.3539

Romania’s leu traded near 4.35 per euro by midday Wednesday and the central bank’s reference weakened slightly to 4.3539 units, from 4.3498 units a day earlier.

Florentina Dragu · 30 noiembrie 2011 · 1 min de citit

Against the US dollar, the leu’s indicative lost 1.03% on the day at 3.2764 units.

The leu opened down at 4.358/4.36 per euro, from 4.352/4.355 per euro at Tuesday’s closing, and market participants suspect the central bank stepped into the market in the morning to support the leu.

Standard & Poor’s Tuesday cut Romania’s local currency ratings by one notch to junk in a move to equalize foreign and local currency ratings. The rating action followed the implementation of S&P’s revised methodology and assumptions for sovereign ratings.

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