The leu opened at 4.34/4.343 to the euro, almost similar to 4.3385/4.341 to the euro at Friday closing.
It later gained ground, nearing 4.32 units, as transferred volumes increased.
At around 10:00 local time (GMT0700), the leu traded at 4.323/4.324 versus the euro, with some dealers saying the local currency’s appreciation is due to euro sales made by non-residents to buy local state paper.
After the first hour of trading in Bucharest, the leu was gaining 0.4% against the euro, while the Hungarian forint and the Polish zloty were up 0.2%.
On Friday, Romania’s central bank set the leu’s official exchange rate at 4.3366 per euro, the strongest in the three months.
On the money market Monday morning, overnight rates were at 4%-4.5% a year.