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Leu stays weak ahead of IMF visit

The National Bank of Romania has set a mid-point reference rate of 4.2496 lei against euro, up 0.04% from yesterday in quiet trade, after an IMF mission arrived Monday at Bucharest to discuss 2010 budget.Monday’s reference rate is the highest in two weeks. On Friday, the central bank posted a rate of 4.2477lei against euro. “The leu moved in a narrow range against its European rival today”, a dealer said. The national currency was trading little above 4.24 units versus euro in the morning, only to fall steadily to 4.25 at noon. At 13:30 EET, the leu was hovering near 4.2502 against euro. In the region, the Polish zloty fell to 4.153 versus euro in the early trades, but recovered to 4.145zlotyeuro at noon. The Hungarian forint followed a similar trend, and increased to 272.8 units versus euro, after falling to 273.2 in the morning.Versus the US dollar, the mid-point reference rate set by the National Bank of Romania climbed 0.85% to 2.9019, from Friday’s 2.8774 leidollar.
Reference rates for December 14, 2009

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