Bloomberg News

Romanian Leu Weakens Fourth Day to Record as Default Swaps Jump

July 23, 2012

The leu weakened for a fourth day to an all-time low against the euro as the cost of insuring Romanian bonds against non-payment with credit-default swaps jumped to the highest in six weeks.

The Romanian currency depreciated 0.8 percent to 4.6348 per euro by 5:37 p.m. in Bucharest, the weakest since Bloomberg began to track the data in 1999. Worsening perceptions of creditworthiness lifted the country’s default swaps by 28 basis pints to 453, the highest since June 11, according to data compiled by Bloomberg.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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