The Finance Ministry plans to raise 600 million lei (EUR136 million) at a four-year bond sale. The issue carries a 5.75% coupon. Yields at local debt sales have started to fall ever since the parliamentary elections in early December.
The leu opened at 4.3925/4.395 per euro, from 4.409/4.411 per euro at Wednesday close. It further strengthened to 4.38/4.385 to the euro, but returned above 4.39 per euro shortly after, amid higher demand for foreign currency.
At around 10:15 am, the leu traded at 4.3905/4.391 versus the euro. Elsewhere in the region, the leu’s peers were losing around 0.1% to the euro.
The central bank set the leu’s reference at 4.4086 units Wednesday, a fresh record high since end April 2012. Against the US dollar, the leu’s indicative lost 0.36% on the day at 3.3728 units.
In the money market Thursday morning, overnight rates were at 5.5%-6% a year.