Romania's leu idles at 3.71 against the single European currency after short drop this morning

Joi, 27 Martie 2008, 00:00

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Romania's currency, the leu, dropped slightly in the opening session today close to 3.73 against the euro, following higher demand for foreign currency and returned afterwards at the level seen in the past days of 3.71, dealers said.

The leu dropped to 3.7275 against the euro during the first hour of transactions then regained all the lost ground. At 11:30 a.m. banks bought the euro with 3.7127 lei and sold it for 3.7226 lei.

"Despite the more consistent demand for foreign currency, the leu's fluctuations were not that wide. The market is calm unlike what we saw in the past months," dealer with Banca Transilvania, Florin Bota told NewsIn.

The U.S. dollar lost ground against the euro on international markets. At 11:39 a.m., Romania's hour, the euro stood at 1.5777 U.S. dollars

Interbank interest rates for overnight deposits stood slightly above the monetary policy interest rate of 9.5-10 percent.

NewsIn

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