Market participants said most of the demand came from corporate investors, who are probably exchanging euros to pay their taxes.
The leu opened at 4.465/4.468 per euro, from 4.4685/4.47 per euro at Wednesday close, and moved in a narrow range throughout the session.
Romania’s central bank set the leu’s reference at 4.4684 versus the euro, 0.17% stronger rom a three-week low of 4.4762 in the previous session. Against the US dollar, the leu’s indicative gained 0.3% to 3.2233 units.
In the money market, overnight rates were at 1.36%-1.86% a year.