Midday Forex: Leu drops slightly

The National Bank of Romania set a reference rate of 4.2628 lei/euro, up 0.08% from 4.2594 lei/euro yesterday. Against the US dollar, the national currency grew to 3.2839 lei/dollar.

The national currency closed lower yesterday, in line with expectations, ING Bank analysts said, and finished trading at 4.2670 units/euro. In the region, leu’s peers also fell more than the national currency.

“This performance of the national currency could suggest the fact that the central bank has limited the weakening of the leu”, ING experts said. The depreciation pressures exerted over the national currency could have been the result of concerns on the global economic recovery after weak factory output data in US and local political instability.

In the region, the Polish zloty fell 0.50% from 4.0723 units/euro to 4.0935 units/euro. The Hungarian forint opened at 279.82 units/euro and fell to 280.89 units/euro at noon.


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