The local currency fell 3.7% versus the euro in the past six days, with market participants saying foreigners have been covering their bond positions. Growing euro demand has also contributed to the leu’s weakening, they said.
Against the US dollar, the leu’s indicative lost almost 0.7% on the day to 3.4113 units Thursday, the weakest level since April 4.
The leu’s indicative versus the greenback is computed based on the leu/euro and the euro/dollar exchange rates.
The local currency opened down at 4.458/4.46 per euro, from 4.43/4.33 per euro at Wednesday close. It further depreciated to an early low of 4.488/4.49 to the euro, the weakest interbank rate this year.
At around 1:00 pm, the leu traded slightly below 4.48 versus the euro.
In the money market, overnight rates rose slightly to 3.4%-3.9% a year, from 3%-3.5% a year Wednesday.