The leu closed at 4.421 per euro, lower from 4.4155 to the euro at Monday close.
Romania’s central bank Tuesday cut its main monetary policy rate by 25 basis points, to a record low of 2.75%, as inflation is still below its target while the economic growth is slowing down. The bank also lowered its minimum requirement ratio for hard currency deposits to 14% from 16%, while keeping the requirements for leu deposits at 10%.
Tuesday, the central bank set the leu’s reference rate at 4.4193 units, down 0.14% on the day. Against the US dollar, the leu’s indicative won 0.12% on the day to 3.5277 units.
In the money market, overnight rates were at 0.1%-0.66%, from 0.26% – 0.76% a year Monday.