Romanian Leu Firms Vs Euro In Quiet Market
Romania’s leu strengthened against the euro Wednesday and closed 0.15% higher on the day at 4.3055/4.306 units, amid declining volumes.
Tuesday, the leu closed at 4.316/4.317 per euro.
The national currency opened slightly up at 4.312/4.314 per euro and further gained ground, hitting the day’s high of 4.3025 per euro.
US investment bank JPMorgan estimate the leu will gain 3% versus the euro over the next days, as local lenders prepare to transition to international accounting standards and will be exchanging euros to put the resulting excess liquidity into their reserves.
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