Leu Opens Flat Vs Euro, Strengthens Early

05.26.2011 By Andrei Cîrchelan

The Romanian leu opened Thursday flat versus the euro, but it started strengthening early in the session, while volumes remained low in a quiet market.

The leu opened at 4.132/4.133 to the euro, roughly the same with 4.132/4.135 to the euro at Wednesday's closing.

Later, the leu strengthened and it was trading at 4.128/4.129 to the euro at 10:15 am (GMT0715).

The central bank set Wednesday the leu's reference at 4.129 per euro, weaker than the previous reference of 4.1233 per euro.

On the money market Thursday morning, overnight rates decreased to 3.5%-4% a year, from 3.8%-4.3% a year in the previous day.