Romanian Leu Exchange Rate Hits 18 ½-Month Low Of 4.3625 Vs Euro
Romania’s leu recovered part of its early losses against the euro by midday Tuesday, but the central bank’s reference lost 0.2% on the day to 4.3625 units, the lowest rate in 18 and a half months.
Against the US dollar, however, the leu’s indicative strengthened slightly to 3.4071 units, from 3.4096 units a day earlier.
The leu opened down at 4.36/4.363 per euro, from 4.358/4.36 per euro at Monday’s closing. It continued to lose ground and hit an early low of 4.3695 per euro before turning to modest gains. Market participants suspect the central bank stepped into the market to prevent the leu from weakening too much.
At around 13:00 hours, the leu traded at 4.366/4.3675 to the euro.
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