Romanian Leu Opens Up, On Local Banks' Euro Sales
The Romanian leu rose against the euro on Monday morning, but the transferred volumes were low, with some local banks selling hard currency, dealers said.
The leu opened at 4.338/4.34 to the euro, compared with 4.341/4.345 to the euro at Friday closing.
It further strenghtened and traded at 4.333/4.3345 per euro by 10:00 local time (GMT0800).
Dealers said some local banks are selling euros from the provisions booked in previous years, after receiving central bank’s permission to adjust their accounts to international reporting standards IFRS.
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