The leu entered an upward trend in Thursday trading session, after the official results of the parliamentary elections, as foreign investors now expect a relative political stability.
The leu opened Monday at 4.472 to the euro, from 4.475/4.478 to the euro at Friday close. It further gained ground, as foreign players placed euro sale orders, and traded below 4.46 units.
At around 10:10 local time (GMT0810), the leu traded at 4.457/4.459 versus the euro.
“Foreign players continue to close long positions on the leu … as they see no signs of political crisis in Romania,” a dealer said. “Traded volumnes are high for the first time (in recent days),” he added.
After the first hour of the session, the leu was the only curency in the region on an upward trend, while the Hungarian forint and the Polish zloty were losing about 0.2%.
On Friday, Romania’s central bank set the official exchange rate at 4.4747 per euro, a three-month high.
On the money market Monday morning, overnight rates were at 5.25%-5.75% a year.