At around 16:30 local time, the leu traded at 4.4105 to the euro, compared with 4.411 to the euro at Monday close.

The local currency traded in a narrow range Tuesday, between 4.406 and 4.412 units, but volumes were higher than the daily average.

However, the central bank’s decision to cut the key monetary policy rate by 25 basis points to 3% was anticipated by most analysts, and it had no impact on the leu’s evolution.

The central bank set the official exchange rate at 4.4114 per euro, from 4.4152 per euro on Monday.

In the money market, overnight rates were slightly down to 3%-3.5% a year.

Subiecte #EURO#LEU