Leu Slides Vs Euro In Quiet Market

09.25.2013 By Bogdan Neagu

The Romanian leu opened slightly weaker against the euro Wednesday, in a quiet market with average transferred volumes.

The leu opened at 4.4725/4.4735 to the euro, from 4.4695/4.4725 to the euro at Tuesday closing.

It slid even further, towards an early low of 4.475/4.477 to the euro, in line with the other currencies in the region.

At around 10:30 local time (GMT0730), the leu was still down versus the euro, trading at 4.4745/4.475 units, while the Hungarian forint and the Polish zloty recovered the morning losses.

The Romanian central bank set Tuesday the leu’s reference rate at 4.4684 per euro, from 4.4712 per euro the day before.

On the money market Wednesday morning, overnight rates were slightly down on the day at 1.8%-2.3% a year.