Wednesday, June 30, 2010

Leu Weakens to Record Low Versus Euro on Romania Loan Concern

By Piotr Skolimowski

June 28 (Bloomberg) -- The Romanian leu depreciated to its weakest intraday level on record against the euro after the opposition pledged to mount another no-confidence motion in parliament, further complicating austerity plans aimed at reviving a bailout loan.

The leu slid 2.1 percent to as low as 4.3685 per euro as of 4:52 p.m. in Bucharest. It was the weakest level since at least February 1999 and the second-biggest loss among more than 170 world currencies tracked by Bloomberg.

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