Leu Recovers Vs Euro Amid High Volumes

04.27.2011 By Florentina Dragu

Romania’s leu reverted early losses against the euro in late trade Wednesday, aided by foreign currency sales and amid higher volumes.

Romania's leu reverted early losses against the euro in late trade Wednesday, aided by foreign currency sales and amid higher volumes.

The leu closed at 4.068/4.0695 per euro, 0.1% stronger from 4.073/4.075 per euro Tuesday.

The national currency opened up on the day at 4.07/4.072 to the euro, but further depreciated, trading at 4.076/4.0775 to the euro in mid-session.

It afterward changed trend and hit the day's high at 4.067/4.069 per euro toward closing.

The central bank set the leu's reference at 4.0767 per euro, slightly weaker on the day.

Against the US dollar, the leu's indicative won nearly 0.3% at 2.7788 units, a fresh high since December 2008.

On the money market, overnight rates fell to 5.2%-5.7% a year, from 5.6%-6.1% a year Tuesday.