Midday Forex: Leu gains modestly against euro

The National Bank of Romania posted a mid-point reference rate of 4.2265lei against euro, 0.04% down than the official rate set on December 31, 2009, after trading higher in the morning against the European currency, in line with its regional peers.
In the last day of 2009, the central bank set a reference rate of 4.2282lei against euro.

In the morning, the leu inched up from 4.24 to below 4.22 versus euro. The RON/EUR rate then harked back to 4.23. At 13:05, the banks were buying a euro for 4.2280 lei and selling it for 4.2330.

“The leu kicked off 2010 on an upbeat note today, due to a favorable regional sentiment and a thin market, as it is the first trading day of the year and volumes are still narrow”, Narcis Noaghea, dealer of Banca Comerciala Romana told NewsIn.

In the region, the Polish zloty edged up from 4.1180 to 4.0870 units/euro, while the Hungarian forint increased from 270.95 to 269.

For the US dollar, the reference rate set by the National Bank of Romania on Monday is 2.9401lei/US dollar, 0.14% higher than 2.9361 rate set on December 31, 2009.

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