Leu Weakens Vs Euro, Attuned To Region

05.03.2011 By Florentina Dragu

Romania’s leu weakened against the euro Tuesday, tracking the currencies in the region, and closed 0.3% lower on the day at 4.1055/4.107 units.

Monday, the leu closed at 4.093/4.0943 per euro.

The leu opened at 4.092/4.095 per euro and further lost ground, pushed down by foreign currency demand.

The leu's evolution was unmoved by the central bank's monetary policy decision. The bank left its key rate unchanged at 6.25% a year for the eighth straight time, as expected, as it continues to battle high inflation.

The leu's indicative against the euro was set at 4.1073 units, the weakest level in three weeks.

On the money market, overnight rates fell slightly to 4.8%-5.3% a year, from 4.9%-5.4% a year a day earlier.