Romanian Leu Stable Vs Euro, Dealers Suspect Central Bank Intervention
The Romanian leu opened Wednesday down against the euro, but it soon started to appreciate, with dealers suspecting a central bank intervention to support the currency, after Standard&Poor's reduced Romania's rating for local currency debts.
The leu opened at 4.358/4.360 against the euro, compared to 4.352/4.355 at closing the day before.
Within the first hour, the leu started to rise, and dealers suspect an indirect intervention by the central bank to maintain the leu stable as the other currencies in the region were falling.
The central bank set Tuesday the leu’s reference at 4.3498 to the euro, 0.2% stronger on the day. Against the US dollar, the leu’s indicative won 0.4% to 3.2429 units.
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