“Players are betting on political stability at home and they are optimistic about Romania signing a new deal with the International Monetary Fund. Also, investors are also drawn by yield levels, considering that Hungary and Poland are expected to announce rate cuts,” said one dealer.
The leu opened up at 4.522/4.523 per euro, from 4.527/4.5275 per euro at Wednesday close. It further appreciated, and at around 2:10 pm, traded at 4.4925/4.495 to the euro.
The central bank set the leu’s reference at 4.5075 against the euro, the strongest rate in two weeks.
In the money market, overnight rates were flat at 5%-5.5% a year.