Romania Leu Exch Rate Hits Fresh 9-1/2 Month High At 4.1788 Vs Euro

Romania’s leu recovered early losses against the euro in mid trade Thursday and the central bank’s reference firmed to a new nine and a half months high at 4.1788 units.

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Against the US dollar, the leu's indicative won 0.7% on the day to 2.9807 units, the strongest rate in one year.

The leu opened lower at 4.179/4.18 per euro, from 4.1765/4.1795 per euro at Wednesday's closing and further lost ground, hitting an early low of 4.1835 per euro.

It later reversed trend and at around GMT1100 traded at 4.177/4.18 to the euro.

Elsewhere in the region, the leu's peers were gaining modestly versus the European common currency, with investors watching Japan's efforts to cool down damaged reactors at the nuclear plant in Fukushima.

On the money market Thursday, overnight rates fell to 2.6%-3.1% a year, from 3.5%-4% a year a day earlier.

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