Leu Stays In Ranges Vs Euro, Exchange Rate At 4.0744

04.29.2011 By Florentina Dragu

Romania’s leu traded in ranges against the euro by mid session Friday and the central bank’s reference firmed slightly to 4.0744 units, from 4.076 units a day earlier.

Romania's leu traded in ranges against the euro by mid session Friday and the central bank's reference firmed slightly to 4.0744 units, from 4.076 units a day earlier.

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.

The leu opened up at 4.076/4.077 per euro, from 4.079/4.081 per euro at Thursday's closing. It hit an early high at 4.0665, pushed up by growing foreign currency sales.

"Trade volumes are at around EUR250 million, well above last day's total volume of EUR162 million," said one dealer.

At around GMT1000, the leu traded at 4.074/4.075 to the euro.

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