The leu opened at 4.435 to the euro, close to Wednesday closing levels of 4.433/4.4345 to the euro, but it soon gained ground.

The local currency touched an early high at 4.41 per euro, before returning towards the 4.42 level. At around 10:30 local time (GMT0730), the leu traded at 4.4245/4.4255 to the euro.

The leu appreciation came after Ben Bernanke, chairman of the Federal Reserve, said the US central bank is in no hurry to raise interest rates from the near-zero levels is set back in December 2008.

Romania’s central bank set Wednesday the leu’s exchange rate at 4.4369 per euro, stronger than 4.4416 per euro in the previous session.

On the money market Thursday morning, overnight rates were at 3.3%-3.8% a year, down from 3.9%-4.4% a year the day before.

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