Midday Forex: Leu touches 11-week high vs euro

The leu hit its highest level against the euro in eleven weeks at the mid-point reference rate set by the National Bank of Romania, on higher demand of national currency ahead of winter holidays.

The leu hasn’t been that strong versus its European peer since September 30, when NBR set a reference rate of 4.1981 lei against euro. On Thursday, December 17, the central bank set a reference rate of 4.2232.

“The leu is challenging the 4.20units/euro level, as it is trading near 4.2010-4.2030 level, on higher demand of currency ahead of winter holidays. I don’t think the central bank has intervened in the market”, a dealer said.

In the region, the Polish zloty hovered near 4.1774-4.1950 while the Hungarian forint traded in the 276.50 – 278.11units/euro range.

Versus the US dollar, the reference rate set by the National Bank of Romania fell 0.8% to 2.9214lei/US dollar, from yesterday’s 2.9454lei/US dollar.


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