Leu rises against euro in early trade

The course clumped from 4.3250 to 4.30 per euro in the first hour, probably due to commercial orders to sell foreign currency but later on, the leu regressed to 4.31 per euro.

At 10:45 a.m., banks were buying a euro for 4.3070 lei and selling it for 4.3120 lei.

“The market seems pretty quiet and the leu's short climb was probably brought about by commercial orders, as the market did not shift notably. Yesterday however the central bank may have intervened indirectly, because the leu seemed to be pushed up every time it slacked,” declared Monica Angelescu, interbank transactions chief with Volksbank Romania, cited by NewsIn.

Emerging currencies headed opposite ways, the Hungarian forint decreasing slightly from 295.85 to 296.90 versus the euro and then coming back up to 294.30. The Polish zloty moved from 4.4655 to 4.4840 per euro and then shot up to 4.4620.

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