Leu Down Vs Euro In Early Trade, Rate Decision Awaited

05.03.2011 By Florentina Dragu

Romania’s leu edged lower against the euro Tuesday morning, amid low volumes and ahead of the central bank’s monetary policy meeting scheduled for today.

The leu opened at 4.092/4.095 per euro, from 4.0935/4.0943 per euro at Monday's closing. It further lost ground and at around GMT0720 traded at 4.102/4.1035 to the euro.

The Romanian central bank set the leu's reference at 4.086 per euro Monday, 0.3% weaker on the day.

On the money market Tuesday morning, overnight rates rose to 5%-5.5% a year, from 4.9%-5.4% a year a day earlier.