Midday Forex: Leu grows 0.56% against euro

The National Bank of Romania set a reference rate of 4.1641 lei/euro, down 0.56% from the four-month high reached Friday, as other currencies in the region had a similar trend versus their European counterpart after the European Union agreed on massive bailout plan for the euro zone.

On Friday, the central bank set a reference rate of 4.1874 lei/euro, the highest since January 5, 2010.

In the overnight trade, the leu was hovering near 4.18 units/euro, but fell to 4.15 units/euro in the morning. At 13:05 a euro was traded for 4.1650 lei.

In the region the Polish zloty grew from 4.1170 units versus euro to 3.98 but harked back to 4.0150. The Hungarian forint rose from 279.60 units/euro to 272.60, and fell to 274.30 at noon.

On Sunday, members of the European Union agreed on a bailout plan for the euro zone. The plan consists of €440 billion from the Eurogroup governments, €60 billion from an EU emergency fund and €250 billion from the International Monetary Fund. The news also well received in the stock markets.

For the greenback, the National Bank of Romania set a reference rate of 3.1976 lei/dollar, down 2.66% from Friday’s high of 3.2851 lei/dollar.


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