Romanian Leu Ends Higher Vs Euro On Low Volumes
Romania’s leu strengthened modestly against the euro amid thin trading Monday, lagging behind its neighbors which won up to 1.5% on the day on increasing optimism regarding new measures to contain the European debt crisis.
The leu closed at 4.35/4.352 to the euro, 0.2% stronger from 4.359/4.36 to the euro Friday.
Elsewhere in the region, the Polish zloty was advancing 0.9% versus the euro, while the Hungary’s forint was up 1.5%. Investors hope Italy’s new austerity plan to reduce the deficit and bolster the economy will give the start for wider measures to tackle the sovereign debt crisis at an EU summit due this weekend.
The leu opened up at 4.349/4.35 per euro and traded near 4.35 per euro for most of the day.
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