The leu moved markedly higher against its European counterpart in the morning trade today, the National Bank of Romania setting a reference rate of 4.1073 lei/euro, the lowest in two weeks, amid a regional forex market rebound.
The leu hit its strongest level since February 11, when the central bank set a reference rate of 4.1071 lei/euro.
“The leu moved surprisingly higher today, on heavy euro sell-off. The growth in the region also added steam to the leu's rally, even though the Hungarian forint and the Polish zloty posted rather moderate gains”, a dealer told NewsIn.
NBR set a reference rate of 4.1073 lei/euro, down 0.44% from Thursday’s rate of 4.1255 lei/euro.
In the morning, the leu climbed from 4.1235 units/euro to 4.1025 lei/euro, but backed gradually to 4.1120 lei/euro.
In the region, the Polish zloty rose from 3.9860 units/euro to 3.9630 in the early trades, and harked back to 3.9720 zloty/euro afterwards. The Hungarian forint grew from 271.20 units/euro to 269.70 but fell to 270.20 units/euro at noon.
For the US dollar, the central bank set a reference rate of 3.0151 lei/dollar, down 1.33% from Thursday’s rate of 3.0558 lei/dollar.
Article comments "Midday Forex: Leu soars to two-week high"
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