4 Martie 2010
Midday Forex: Leu posts modest gains against euro
The national currency grew modestly in early trading, in line with its peers in the region. The National Bank of Romania set a reference rate of 4.1049 lei/euro, 0.1% down from Tuesday’s rate of 4.1092 lei/euro.
“The euro’s gain versus its US counterpart has spread optimism to the emerging markets. The leu’s rebound was also driven by the news in the local market (fourth-quarter GDP data). Greece’s new series of austerity measures have added steam to the appreciation of the euro”, a dealer told NewsIn.
The leu moved sideways in early trading, between 4.0998 and 4.1125 units/euro, with no clear direction, as its peers in the region fell in the morning, and recouped losses at noon.
The Polish zloty dropped in the morning from 3.9144 to 3.9298 units/euro but grew afterwards to 3.8978 units/euro. The Hungarian forint dropped from 266.43 to 266.95 units/euro.
For the US dollar, the central bank set a reference rate of 3.0120 lei/dollar, down 0.94% from Tuesday’s rate of 3.0406 lei/dollar.
The leu moved sideways in early trading, between 4.0998 and 4.1125 units/euro, with no clear direction, as its peers in the region fell in the morning, and recouped losses at noon.
The Polish zloty dropped in the morning from 3.9144 to 3.9298 units/euro but grew afterwards to 3.8978 units/euro. The Hungarian forint dropped from 266.43 to 266.95 units/euro.
For the US dollar, the central bank set a reference rate of 3.0120 lei/dollar, down 0.94% from Tuesday’s rate of 3.0406 lei/dollar.