Leu In Ranges Vs Euro, On Low Volumes

03.15.2013 By Bogdan Neagu

The Romanian leu traded in a narrow range above 4.39 per euro Friday morning, in an apathetic market, dealers said.

The leu opened at 4.393/4.395 to the euro, similar to 4.3925/4.395 to the euro at Thursday closing.

It strengthened very little after the first transfers and traded at 4.391/4.393 to the euro at around 10:20 local time (GMT0820).

On Thursday, Romania’s central bank set the leu’s exchange rate at 4.3975 per euro, about 0.3% weaker on the day.

On the money market Friday morning, overnight rates stayed low, at around 1.2%-1.5% a year, on liquidity surplus.