Leu Ends Down Vs Euro On Large Volumes

08.26.2014 By Bogdan Neagu

The Romanian leu lost ground against the euro Tuesday, on large buy orders for hard currency in the second half of the interbank trading session.

The leu opened stronger versus the euro Tuesday morning, but later it switched trend and closed above 4.4 units.

Monday, the leu closed at 4.3935 to the euro.

During the day, the leu varied between a high at 4.3923 units in early session and the day's low of 4.4015 units, near the closing time.

Romania's central bank set the leu's exchange rate at 4.3964 per euro, from 4.3947 per euro on Monday.

On the money market Tuesday morning, overnight rates rose to 1.9%-2.4% a year from 1.7%-2.2% a year the day before.