Monday, the leu closed at 4.49/4.4915 versus the euro.
The leu opened flat at 4.49 to the euro, but further appreciated, hitting an early high of 4.465 per euro. In the first half of the day, the leu traded slightly below 4.46 versus the euro.
The leu’s indicative against the US dollar was set to 3.2984 units, from 3.3264 units in the previous day.
Romania’s central bank Tuesday lowered its main monetary policy rate by a quarter of a point to a fresh all-time low of 3.5% a year, in line with market expectations. It was the sixth consecutive cut since July 2013 and analysts believe increased inflationary pressures and the recent developments in emerging markets will prompt the bank to halt its monetary easing cycle.
In the money market, overnight rates were at 3.5%-4% a year a year, from 3.6%-4.1% a year Monday.