Romanian Leu Falls To 4.37 Vs Euro In Early Trade
Romania’s leu opened down against the euro Tuesday morning and traded just shy of 4.37 units in early session, with dealers suspecting a covert intervention from the central bank to steer the national currency higher.
The leu opened 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.
Market participants suspect the central bank stepped into the market to prevent the leu from depreciating further.
At around 10:20 hours, the leu traded at 4.367/4.369 to the euro.
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