Against the US dollar, the leu’s indicative lost 0.3% to 3.2493 units.
The leu opened flat at 4.386/4.389 to the euro and moved in a narrow range in the first hour. However, euro demand from non-residents pushed the leu to an intraday low of 4.4121 against the European common currency
“Volumes are low and the higher demand from non-residents caused the leu to weaken. The evolution is somewhat strange, considering the finance ministry has scheduled a debt sale today and the players have been showing increased interest for Romanian bonds,” said one dealer.
At around 1:00 pm (GMT1100), the leu traded at 4.41/4.412 to the euro.
In the money market, overnight rates were flat at 5.6%-6.1% a year.