Bloomberg News

Leu Rebounds From All-Time Low as Romania Said to Buy Currency

August 06, 2012

Romania’s leu strengthened from its record low after the nation’s central bank was said to buy the currency.

The leu appreciated 1.1 percent to 4.5743 per euro by 5:26 p.m. in Bucharest. The Romanian currency was the world’s second- worst performer last month with a 3 percent slump against the euro, and reached an all-time intraday low of 4.6520 on Aug. 3.

The Banca Nationala a Romaniei exchanged euros into lei in the first half of today, said two traders at Bucharest-based banks, who couldn’t be identified because of company policy. Mugur Stet, a spokesman with the central bank, declined to comment when contacted by phone by Bloomberg News today.

To contact the reporters on this story: Irina Savu in Bucharest at isavu@bloomberg.net; 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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