Leu Opens Weaker Vs Euro, Peers Hold Ground

04.20.2011 By Andrei Circhelan

The Romanian leu opened Wednesday weaker against the euro, in a quiet market, while other currencies in the region were seeing some minor oscillation.

The Romanian leu opened Wednesday weaker against the euro, in a quiet market, while other currencies in the region were posting some minor oscillation.

The leu opened at 4.182/4.185 against the euro, weaker than 4.0865/4.088 at closing Tuesday.

Within the first hour, the leu strengthened slightly to 4.178 versus the euro, banks expected the leu to strengthen further. At around GMT0715, the leu was trading at 4.0815/4.084 versus the euro.

Romania's central bank set Thursday the leu's reference at 4.091 to the euro, slightly weaker from 4.0869 to the euro Monday.

On the money market, overnight rates were at 2.5%-3.5% a year.