The leu advanced to nine-month high against its European counterpart today, to a reference rate of 4.1215, after a constant appreciation in the early trades, in line with the regional sentiment.
The leu rose against the euro to its highest since April 10, 2009, when the National Bank of Romania posted a reference rate of 4.1189lei/euro. The national currency gained 0.34% from yesterday’s 4.1355lei/euro.
The leu started off on a low note today, edging down from 4.13 to 4.1390 units/euro, but regained strength afterwards and rose to 4.1180 lei/euro. At 14:20, banks were buying a euro for 4.1120 lei and selling it for 4.1170 lei.
“The bullish sentiment in the region reflected in the EUR/RON exchange rates. The central bank probably wanted to add speed to leu’s rally, in view of potential drops”, a dealer told NewsIn.
The zlotys’s modest depreciation was short-lived as it strengthened at noon from 4.0810 units/euro to 4.0480. The Hungarian forint fell in the morning from 267.40 against euro to 267.90 but grew afterwards to 266 forints/euro.
For the US dollar, the reference rate posted by the National Bank of Romania is 2.8388lei/dollar, down 0.43% from yesterday’s 2.8511 lei/dollar.
Article comments "Midday Forex: Leu holds strong against euro, hits 9-month high"
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