Against the US dollar, the leu’s indicative lost 1.03% on the day at 3.2764 units.
The leu opened down at 4.358/4.36 per euro, from 4.352/4.355 per euro at Tuesday’s closing, and market participants suspect the central bank stepped into the market in the morning to support the leu.
Standard & Poor’s Tuesday cut Romania’s local currency ratings by one notch to junk in a move to equalize foreign and local currency ratings. The rating action followed the implementation of S&P’s revised methodology and assumptions for sovereign ratings.
On the money market, overnight rates were flat at 5.5%-6% a year.