Leu Opens Stronger Vs Euro, Amid Pre-Easter Trading

04.22.2011 By Andrei Circhelan

The Romanian leu opened Friday slightly stronger against the euro, on very low traded volumes, as investors prepare for the Easter holidays.

The Romanian leu opened Friday slightly stronger against the euro, on very low traded volumes, as investors prepare for the Easter holidays.

The leu opened at 4.083/4.085 versus the European coin, compared to 4.087/4.089 at closing Thursday.

Within the first hour of trading, the leu continued to strengthen and, at around GMT0715, it traded at 4.078/4.08 to the euro.

The central bank set the leu's reference at 4.0906 to the euro Thursday, slightly weaker from 4.0858 to the euro in the previous day.

On the money market Friday morning, overnight rates jumped to 4.75%-5.25% a year, from 2.31%-2.81% a year, as banks prepare for a new reserve building period.

Keywords:
LEU
, EURO
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