Romanian Leu Recovers Vs Euro, In Line With Neighbors
Romania’s leu recouped versus the euro in late trade Tuesday, tracking the neighboring currencies, and closed almost flat at 4.359/4.3605 units, from 4.3585/4.36 units a day earlier.
Elsewhere in the region, the leu’s peers were gaining up to 1% against the European common currency.
The leu opened at 4.36/4.363 per euro and hit the day’s 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.
The central bank set the leu’s reference at 4.3625 to the euro, he 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.
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