The leu opened at 4.305 per euro, from 4.303/4.305 per euro at Friday close. Monday, the market was closed for Easter.
At around 10:00 am, the currency traded at 4.2995/4.3015 to the euro. Elsewhere in the region, the leu’s peers traded slightly down versus the euro.
The central bank set the leu’s reference at 4.3072 to the euro Friday, the highest rate since December 2011. Central bank governor Mugur Isarescu said last week that the leu’s appreciation was remarkable considering the crisis in Cyprus, mentioning the currency could grow even stronger in the next period, fueling exports.
In the money market Tuesday morning, overnight rates were at 4.5%-5% a year.