Leu Recovers Early Loss Vs Euro, Ends Flat On Day

05.04.2011 By Andrei Circhelan

The Romanian leu closed flat against the euro Wednesday at around 4.1055/4.1075 units, recovering in the second half of the session the ground lost in early trade.

The leu opened at 4.111/4.113 against the euro, weaker than 4.1055/4.107 at Tuesday closing.

It stayed around the opening values throughout the first part of the session, but in late trade the leu recouped the early losses, following the regional trend as the euro strengthened against the US dollar.

Romania's central bank set the leu's reference rate at 4.1127 per euro, 0.1% weaker on the day.

On the money market, overnight rates dropped to 4.34%-4.84% a year, from 4.83%-5.33% a year on Tuesday.