Leu Loses Early Gains Vs Euro, Exchange Rate At 4.1254

05.19.2011 By Florentina Dragu

Romania’s leu lost early gains versus the euro in mid trade Thursday and the central bank’s reference weakened to 4.1254 units, from 4.1184 units a day earlier.

Against the US dollar, the leu's indicative lost nearly 0.2% on the day at 2.8965 units.

The leu opened up at 4.122/4.123 per euro, from 4.127/4.128 per euro at Wednesday's closing and further gained ground, hitting an early high of 4.12 per euro.

It later reversed trend and at around 13:00 local time traded near 4.125 to the euro.

On the money market, overnight rates fell slightly to 2.6%-3.1% a year, from 2.7%-3.2% a year Wednesday.