Saturday, October 4, 2008

Romania's Leu Lowest Since 2005

03 October 2008
Bucharest _ Romania's national currency, the leu, fell three per cent on Friday, dropping to its lowest level against the euro in the last three and a half years.

The leu fell to 3.8720 versus the euro, its lowest level since 2005, as investors sold the Romanian currency in large volumes.

Traders did not exclude possible intervention by the Romanian National Bank, BNR, in a bid to stabilise the exchange rate if the decline continues.

The leu has been weakening in the last couple of weeks due of the international crisis and low interest from the investors in a currency seen as a risky asset.

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