Romanian Leu Ends Flat vs Euro

The leu hit an intra-day low of 3.8500 per euro as investors preferred the single currency due to falling overnight rates in Romania and amid a depreciating trend of the other emerging currencies in the region, one dealer told SeeNews.

The dealer expects the leu to ease versus the euro in the next couple of days due to the same reasons.

Interest rates on overnight leu deposits fell to an average of 7.86%/8.89%, compared to 9.79%/10.68% on Tuesday.

Romania's central bank, BNR, set its reference exchange rate, used for statistical purposes, at 3.8421 lei per euro on Wednesday, compared to 3.8391 lei per euro on Tuesday. For the U.S. dollar, the reference exchange rate was set at 3.0425 lei versus Tuesday’s 3.0447 lei.

Turnover on the interbank leu deposit market rose to almost 2.555 billion lei on Tuesday from 2.226 billion lei on Monday. The BNR will issue Wednesday 's figures on Thursday.

Following are Wednesday's average bid and ask quotes of commercial banks on Romania's interbank market. They were calculated at 11 a.m. (0800 GMT) by the BNR, based on data provided by 10 commercial banks (in pct):