The leu closed at 4.469/4.471 per euro, from 4.46/4.462 per euro Tuesday. The local currency fell against the euro yesterday after President Traian Basescu refused to sign the country’s latest memorandum of understanding with the International Monetary Fund.
The leu opened slightly up at 4.4585/4.4615 per euro Wednesday, but further depreciated, hitting the day’s low of 4.475 to the euro in the second half of the session.
The central bank set the leu’s reference at 4.4715 against the euro, the lowest level in the past 11 weeks. However, against the US dollar, the leu’s indicative gained modestly to 3.29 units, from 3.2936 units a day earlier.
In the money market Wednesday, overnight rates were at 1.6%-2.1% a year.