Romanian Leu Recoups Vs Euro, Exchange Rate At 4.3577
Romania’s leu recovered early losses against the euro by midday Wednesday and the central bank’s reference strengthened slightly to 4.3577 units, from 4.3588 units a day earlier.
Against the US dollar, the leu’s indicative lost over 1% on the day to 3.2557 units.
The leu opened modestly down at 4.36/4.362 per euro, from 4.3585/4.361 per euro at Tuesday’s closing. It further lost ground and hit an early low of 4.367 per euro, but euro sales helped push the national currency higher.
At around 13:00 hours, the leu traded at 4.357/4.3595 to the euro. Market participants believe the central bank stepped in to stop the leu from weakening too much.
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