The leu closed at 4.3465/4.347 per euro, from 4/3445/4.3465 per euro Tuesday.
The currency opened down at 4.352/4.353 to the euro, but recovered shortly after, hitting the day’s high of 4.344 to the euro in the first part of the session. However, it started to depreciate in the afternoon as trade volumes increased.
The central bank set the leu’s reference at 4.3465 per euro, modestly stronger on the day. The leu strengthened against the US dollar as well and gained 0.5% on the day to 3.3601 units, from a five-week low of 3.3781 units a day earlier.
In the money market, overnight rates were at 2.2%-2.7% a year, well below the central bank’s key monetary policy rate of 5.25% a year.