Romanian Leu Extends Gains Vs Euro, Ends Below 4.27 Units

Romanian leu closed higher against the euro Monday, unlike currencies in the region, which lost their earlier gains and ended 0.1%-0.3% weaker on the day.

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The leu closed at RON4.2660/RON4.2690 to the euro, 0.2% stronger from RON4.2750/RON4.2775 at Friday closing time.

Romania's currency opened slightly higher against the euro Monday, attuned to the currencies on the emerging markets, and kept an upward trend throughout the day, with slight temporary variations.

The leu opened at RON4.2710/RON4.2740 to the euro and hit the day's high at RON4.2650/RON4.2680 per euro.

On the money market Monday, overnight rates were at 8.39%-8.89% a year, slightly down on the day.

Romania's central bank set a reference rate of RON4.2738 per euro, 0.16% stronger on the day.

In January to November, the Romanian leu lost 7.24% against the European currency, from RON3.9852 per euro computed by the central bank in the last session of December 2008.

In November alone, however, the national currency managed to gain 0.5% versus the euro from RON4.2955 to the euro in the last session of October.

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