The leu opened at 4.4920 per euro, slightly lower from 4.4905/4.4930 per euro at Wednesday close, but it further gained ground, amid low traded volumes.
At around 10:00 a.m. (GMT07:00), the leu traded at 4.4830/4.4840 versus the euro.
“The slight increase of the leu was caused by the fact some banks have started to increase interest rates (…) for setting up minimum compulsory reserves. Some probably chose to make these reserves right from the start. Hence, traded volumes are low, without predicting whether the trend is due to continue for a longer period of time,” a dealer said.
On Wednesday, the central bank set the leu’s reference at 4.4885 per euro, 0.2% stronger on the day. Against the US dollar, the leu’s indicative gained 0.7% to 3.5999 units.
In the money market Thursday morning, overnight rates increased at 5% – 6% a year, from 3.88% – 4.38% a day before.