Leu Dips Vs Euro Amid Low Volumes

05.17.2011 By Florentina Dragu

Romania’s leu edged lower against the euro in late trade Tuesday and closed slightly weaker on the day, amid low volumes.

The leu closed at 4.11/4.112 per euro, from 4.1035/4.1055 per euro Monday.

Elsewhere in the region, the leu's peer were retreating modestly versus the euro, as investors showed caution after European finance ministers discussed the possibility to extend the repay deadline for Greece's debt.

The leu opened slightly down at 4.104/4.1065 per euro and traded near 4.105 per euro for the first part of the session.

It later started to lose ground and hit the day's low at 4.112 to the euro.

The central bank set the leu's reference at 4.1051 to the euro, little changed on the day.

On the money market Tuesday, overnight rates were flat at 2.7%-3.2% a year.