Romanian Leu Strengthens Vs Euro In Early Trade
The Romanian leu opened slightly weaker against the euro on Thursday, but it soon recovered and started gaining ground against the European coin as a hedge fund started buying lei, dealers said.
The leu opened at 4.3445/4.3465 against the euro, compared to 4.344/4.3455 at closing the day before.
Within the first hour of trading, leu purchase orders brought the local currency to 4.340/4.341 units, around 10:00 local time.
The central bank set the leu’s reference at 4.3505 to the euro Wednesday, modestly stronger on the day. Against the US dollar, however, the leu’s reference weakened to 3.2504 units, from 3.2486 units in the previous session.
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