Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Romania’s Leu Set for Biggest Monthly Gain in Emerging Markets

The leu headed for the best performance this month among emerging-market currencies on suspended Romanian President Traian Basescu’s return to office.

The currency has advanced 2.5 percent this month, outperforming all 25 emerging markets and ranking second after the Seychelles rupee among all the currencies tracked by Bloomberg. The leu weakened less than 0.1 percent to 4.4700 per euro by 5:38 p.m. in Bucharest.

A Constitutional Court invalidated an impeachment referendum on Basescu on Aug. 21, paving the way for his return to office on Aug. 28 and easing political turmoil. The central bank has supported the leu by limiting the amount of funds it provides to lenders via one-week repurchase agreements auctions, supplying less than demanded in each of the four weeks in August.

The central bank tightened liquidity to “limit leu depreciation,” analysts including Nicolae Covrig at Raiffeisen Bank Romania SA wrote in a note to clients.

The bank lent 4 billion lei ($1.1 billion) in its Aug. 27 repo auction against bids for 17 billion lei, according to data compiled by Bloomberg. It provided a similar amount on Aug. 20 versus 15 billion lei, 5 billion lei on Aug. 13 against 18 billion lei and 6 billion lei on Aug. 6 compared with 15 billion demanded by lenders.

Yields on Romania’s 10-year dollar bonds fell one basis point to 5.61 percent, the lowest since the securities first traded in January, according to data compiled by Bloomberg. The yield fell 32 basis points this month.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.