The leu opened at 4.4465/4.4475 per euro, from 4.4488/4.4515 per euro at Monday close. It further appreciated, and at around 10:15 am traded at 4.4335/4.4345 to the euro.
The central bank set the leu’s reference at 4.4501 versus the euro Monday, 0.2% stronger on the day. Against the US dollar, the leu’s reference gained 0.17% to 3.4094 units.
In the money market Tuesday morning, overnight rates were at 5.2%-5.7% a year, above the central bank’s key lending rate of 5% a year. The bank yesterday lowered its main monetary policy rate for the first time in 15 months, from 5.2% previously.