The currency opened flat on the day at 4.48 to the euro, but further appreciated, hitting the day’s high of 4.408 to the euro in the second half of the session. In the afternoon, the leu lost part of its earlier gains and traded near 4.43 versus the euro.
Market participants said trade volumes rose to their highest level this year. They said investors might have sold more euros to keep the RON/euro pair in check, as telecom operators are expected to pay licenses worth around EUR500 million this week.
The central bank set the leu’s reference to 4.4161 to the euro, the strongest rate in three weeks. Against the US dollar, the leu’s indicative won 0.96% on the day to 3.3881 units.
In the money market, overnight rates were at 4.2%-4.7% a year.