Romanian Leu Extends Gains Vs Euro, Exch Rate At 4.1084

04.11.2011 By Florentina Dragu

Romania’s leu extended early gains versus the euro in mid trade Monday, unlike its peers in the region, and the central bank’s reference won 0.15% on the day to 4.1084 units.

Romania's leu extended early gains versus the euro in mid trade Monday, unlike its peers in the region, and the central bank's reference won 0.15% on the day to 4.1084 units.

Against the US dollar, the leu's indicative gained over 0.5% to 2.8412 units, the strongest rate since January 2010.

The leu opened higher at 4.108/4.109 per euro, from 4.11/4.1125 per euro at Friday's closing.

At around GMT1000, the leu traded at 4.106/4.108 per euro.

Romanian consumer prices rose 0.6% in March from a month earlier, while the annual inflation accelerated to an unexpected 8.01%, the highest level since August 2008, the country's statistics institute INS said earlier Monday.

"The high inflation could indicate the central bank's inclination toward a firmer leu to curb import prices," an ING report said.

On the money market, overnight rates fell to 2.7%-3.2% a year, from 2.8%-3.3% a year Friday.