Romanian Leu Weakens Slightly vs Euro on Moody's Comments

"It's most probably because of what Moody's said [...] It was trade in low volumes, as foreign investors moved away from the local market," one dealer told SeeNews.

The global ratings agency estimates that Romania's gross domestic product may contract by 0.3% next year, pressured by the global crisis, private Romanian business broadcaster The Money Channel reported on Monday.

The leu closed at 3.8040/8120 per euro in calm trading on Tuesday, compared to a close of 3.7990/8010 on Monday.

Romania's central bank, BNR, set its reference exchange rate, used for statistical purposes, at 3.7933 lei per euro on Tuesday, compared to 3.7985 lei on Monday. For the U.S. dollar, the reference exchange rate was set at 2.9532 lei versus Monday's 2.9993 lei.

Interest rates on overnight leu deposits were set at an average of 13.53%/15.00% on Tuesday, compared to 14.04%/16.66% on Monday.

Turnover on the interbank leu deposit market fell to almost 1.15 billion lei on Monday from 1.371 billion lei on Friday. The BNR will issue Tuesday's figures on Wednesday.

Following are Tuesday's average bid and ask quotes of commercial banks on Romania's interbank market. They were calculated at 11 a.m. (0900 GMT) by the BNR, based on data provided by 10 commercial banks (in pct):