3 Februarie 2010
Midday Forex: Leu gives up gains against euro on massive sell-off
The EUR/RON reference rate set by the National Bank of Romania rose 0.18% from Monday, to 4.0877 lei against euro, on massive capital flight from the leu and from other currencies in the region.
On Monday, the National Bank of Romania set a reference rate of 4.0805 lei against euro.
“The leu opened higher today, and inched to 4.0730 against its European counterpart, but fell afterwards to 4.0925 -4.0950. It is a regional correction owing to massive selloff of emerging currencies”, a dealer told NewsIn.
In the morning the leu was hovering near 4.07 but started to lose ground afterwards against its European peer to 4.0925. At 13:40EET, the euro was near 4.0910.
In the region, the euro gained strength against a basket of currencies. The Polish zloty fell to 3.9940units/euro from 3.9760 units/euro, while the Hungarian forint traded near 269.50 units/euro.
For the US dollar, the reference rate set by the National Bank of Romania is 2.9331 lei/dollar, 0.09% below yesterday’s level of 2.9358 lei/dollar.
“The leu opened higher today, and inched to 4.0730 against its European counterpart, but fell afterwards to 4.0925 -4.0950. It is a regional correction owing to massive selloff of emerging currencies”, a dealer told NewsIn.
In the morning the leu was hovering near 4.07 but started to lose ground afterwards against its European peer to 4.0925. At 13:40EET, the euro was near 4.0910.
In the region, the euro gained strength against a basket of currencies. The Polish zloty fell to 3.9940units/euro from 3.9760 units/euro, while the Hungarian forint traded near 269.50 units/euro.
For the US dollar, the reference rate set by the National Bank of Romania is 2.9331 lei/dollar, 0.09% below yesterday’s level of 2.9358 lei/dollar.