The leu opened at 4.306/4.3085 per euro, from 4.312/4.3145 per euro at Monday’s closing. It further gained ground, and at around 10:30 hours traded at 4.3005/4.302 per euro.
According to market participants, the leu’s appreciation is also supported by rising remittances from Romanians who work abroad. Additionally, non-resident players are yet to exit their long positions on the leu and stop-loss orders could strengthen the national currency further.
The central bank set the leu’s reference at 4.3146 to the euro Monday, the strongest rate in two months.
On the money market Tuesday morning, overnight rates were at 4.1%-4.6% a year.