Leu Opens Stronger Vs Euro, On Positive Sentiment

04.19.2011 By Andrei Circhelan

The Romanian leu opened stronger against the euro Tuesday, on a positive sentiment in the region following an improved outlook for industry and services in the euro zone.

The Romanian leu opened stronger against the euro Tuesday, on a positive sentiment in the region following an improved outlook for industry and services in the euro zone.

The leu opened at 4.087/4.089 versus the euro, stronger than 4.09/4.092 versus the euro at closing the day before.

Within the first hour, the leu saw some insignificant oscillation and, at around GMT0700 it traded at 4.087/4.0885 against the European coin.

Elsewhere in the region, the Polish zloty was up 0.3% against the euro, while the Hungarian forint was gaining 0.4%.

The Romanian central bank set Monday the leu's reference at 4.0896 to the euro, the strongest rate since March 2010.

On the money market Tuesday morning, overnight rates were at 2%-2.25% a year, little changed from the previous session.