Romanian Leu Ramps Up Vs Euro, On 1H Intl Results

The Romanian leu continued to strengthened against the euro on Thursday, driven by the positive sentiment in the region following the financial results reported by GP Morgan, Nokia and Coca-Cola, dealers said.

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Thursday, the leu closed at RON3.5565-RON3.5580 against the euro, compared with Wednesday’s RON3.5790-3.5810.

"The currencies in the region are appreciating. The positive sentiment was due to the good results reported by GP Morgan, Nokia and Coca-Cola in the first half of the year. On the local market the euro was on sale," said a dealer with a foreign bank based in Bucharest.

During the session, the leu has touched a day’s high at RON3.555 units and a low at RON3.5740-RON3.5760.

On the money market, overnight rates were at 9.42% - 9.92% on the year.

The central bank computed an indicative daily average rate of the leu at RON3.5705 against the euro and RON2.2479 against the US dollar.

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