The leu opened flat at 4.35/4.353 per euro, but further lost ground and at around 10:00 hours traded at 4.3535/4.355 per euro.
Revised data on the third-quarter economic growth showing the gross domestic product grew at a slightly slower pace than previously thought had no immediate effects on the leu’s evolution.
The GDP advanced 1.8% on the quarter in July through September, compared with a 1.9% growth initially estimated, fresh data from the statistics institute showed earlier Tuesday.
“The leu’s modest depreciation, just like the one of the other currencies in the region, was prompted by a decline of the euro against the US dollar following S&P’s warning,” said one dealer.
S&P Monday warned it could lower its ratings on the 15 euro-zone nations that were placed under negative watch unless the European leaders can come with a sustainable action plan at a summit this weekend to end the sovereign debt crisis.
Romanian central bank set the leu’s reference at 4.353 to the euro Monday, slightly stronger on the day.
On the money market Tuesday morning, overnight rates were at 5.5%-6% a year.