Against the US dollar, the leu’s indicative won 0.7% to 2.8875 units.
Fitch Ratings Monday upgraded Romania’s long-term foreign currency issuer default rating to ‘BBB-‘ from ‘BB’ and long-term local currency rating to ‘BBB’ from ‘BBB-‘, citing the country’s progress in recovering from the financial crisis. Both outlooks are stable.
The leu opened slightly up at 4.191/4.194 per euro, from 4.1954/4.198 per euro at Monday’s closing. It further gained ground, pushed up by growing demand, and hit an early high of 4.174 per euro.
On the money market, overnight rates fell slightly to 3.4%-3.9% a year, from 3.6%-4.1% a year in the previous session.