October 5 (SeeNews) - The Romanian leu on Monday reversed last week’s downward trend and closed stronger against the euro in line with other currencies of emerging markets in the region, dealers said.
The leu ended at 4.2630/2680 per euro, compared to 4.2730/2760 per euro on Friday.
The leu mirrored its regional peers, especially the Hungarian forint and the Polish zloty, one dealer told SeeNews. The Romanian currency opened near 4.26050/2700 and traded in a calm and stable market, he said.
Last week the leu neared the 4.3-per-euro mark amid political uncertainty following the break-up of the country’s ruling coalition.
All ministers from the left-wing Social Democratic Party stepped down on Thursday after President Traian Basescu endorsed the dismissal of Interior Minister Dan Nica, affiliated to the party.
Romania’s central bank, BNR, set its reference exchange rate at 4.2670 per euro on Monday, compared to 4.2782 per euro on Friday. For the U.S. dollar, the BNR set its reference exchange rate at 2.9187 versus Friday’s 2.9414.
Turnover on the interbank leu deposit market fell to 1.343 billion lei on Friday from 1.729 billion lei on Thursday. The BNR will issue Monday’s turnover figures on Tuesday. BNR on Monday injected 11.24 billion lei on the interbank money market in a two-day repo deal at a rate of 8.0%.
Interest rates on overnight leu deposits fell to 10.84%/11.38% on Monday from 10.97%/11.51% on Friday.