Romanian Leu Stays In Ranges Vs Euro, In Quiet Market

The leu opened at 4.347/4.35 to the euro, slightly weaker than 4.3465/4.348 to the euro at Wednesday closing.

It further gained some minor ground on reduced volumes, and traded at 4.3455/4.347 per euro by 10:00 local time (GMT0800).

“In theory, the positive sentiment on international markets should help the leu, but it seems the exchange rate is kept at current levels by corporate demand for euros, most probably from multinational companies that plan to repatriate profits,” a dealer said.