Romanian Leu Closes Up Vs Euro, Attuned To Region

04.13.2011 By Florentina Dragu

Romania’s leu edged higher against the euro in late trade Wednesday, tracking its peers in the region, and closed modestly stronger on the day at 4.104/4.105 units.

Shopping center developers will mainly target Central and Eastern Europe in 2011 and 2012, while Romania could still absorb some 800,000 square meters of modern retail space, propetry consultant DTZ said Wednesday in a report.

Tuesday, the leu closed at 4.108/4.1095 to the euro.

The national currency opened flat on the day and traded near 4.11 per euro in the first part of the session, before turning to gains, influenced by a positive sentiment in the region.

The positive sentiment came after US giant lender JPMorgan announced a 67% increase in its first quarter profit to $5.56 billion, beating market estimations, said one dealer.

Romania's central bank set the leu's reference at 4.114 to the euro, slightly stronger on the day.

On the money market, overnight rates fell to 2.5%-3% a year, from 2.8%-3.3% a year Tuesday.

Keywords:
LEU
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