Leu Down Vs Euro In Early Trade

05.25.2011 By Florentina Dragu

Romania’s leu edged lower against the euro Wednesday morning, amid low volumes and a higher aversion to risk from regional investors, following talks regarding a possible restructuring of Greece’s debt.

The leu opened at 4.123/4.125 per euro, from 4.121/4.123 per euro at Tuesday's closing. Euro sales pushed the leu higher soon after the opening bell, but only for a short time.

At around 10:00 local time, the leu traded at 4.125/4.1275 per euro.

Romanian central bank set the leu's reference at 4.1233 to the euro Tuesday, slightly stronger on the day.

On the money market Wednesday morning, overnight rates were at 3.5%-4% a year.