The leu opened at 4.62 per euro, from 4.63 to the euro at Thursday close. It further depreciated and traded at 4.64/4.643 per euro in early action.
“Volumes are up and the downward pressure on the leu is bound to increase,” said one dealer, who added that the central bank has already stepped in to support the national currency.
Romania’s top court Thursday failed to certify the results on a national poll on whether suspended president Traian Basescu should be removed from office, failing to end a political crisis that is already taking its toll on the economy.
The elections panel announced the referendum didn’t produce the necessary 50% plus one majority of votes to impeach Basescu, but the court requested additional data before making a rule on September 12.
The leu weakened to 4.63 to the euro immediately after the news Thursday evening.