Leu Closes Slightly Up Vs Euro On Higher Volumes

04.29.2011 By Florentina Dragu

Romania’s leu gained modestly versus the euro Friday and closed stronger on the day at 4.0755/4.0765 units, amid higher volumes.

Romania's leu gained modestly versus the euro Friday and closed stronger on the day at 4.0755/4.0765 units, amid higher volumes.

Thursday, the leu closed at 4.079/4.081 per euro.

The leu opened up at 4.076/4.077 per euro and hit an early high at 4.0665, pushed up by higher foreign currency sales. It later lost part of its gains and traded near 4.075 units for the remainder of the day.

The Romanian central bank set the leu's reference at 4.0744 to the euro, slightly stronger on the day.

The leu continued a four-day rally against the US dollar and hit a new high at 2.7408 units, the strongest rate since December 2008.

On the money market, overnight rates fell to 5.1%-5.6% a year, from 5.3%-5.8% a year Thursday.