5 Februarie 2009

Romanian leu regains momentum versus euro after weak opening

The exchange rate pushed the leu aside this morning from 4.2975 to 4.3215 against the single European currency on speculations in the region, but the leu got stronger and started to regain the lost ground, NewsIn informs.

At 10:45 banks were buying the euro for 4.3105 and selling it to 4.3160 lei.

“The leu began the day down, but it is now slowly growing,” chief with treasury at Volksbank Romania, Ciprian Mihai, said. The leu is evolving in line with the regional currencies, but the Romanian market seems a bit calmer, he added.

In the region the Hungarian forint initially fell to 304.25 against the euro and then recovered to 299.40 while the Polish zloty dropped to 4.7005 only to grow back to 4,6645 over the euro.

On the international markets the American dollar lost ground from 1.2956 to 1.3069 and then recovered to 1.2972 against the euro.

Interbank interests for overnight deposits stay high at 14-15 percent per year pending the central bank’s decision on the main interest rate today.

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