The leu opened at 4.6300/4.6330 per euro, higher from 4.6375/4.6415 per euro at Friday close.
At 10:10 a.m., the leu traded at 4.6220/4.6235 versus the euro.
“The leu’s ate versus euro is continuously reacting to the strong US jobs data published Friday.(…) Today, the currencies on the neighboring markets are stagnating and the leu still takes advantage from the foreign investors’ optimist. Hence, the traded volumes are low,” a dealer said.
Most dealers believe the Romanian currency will remain under pressure after the country’s top court delayed its ruling regarding a referendum on whether suspended President Traian Basescu can retain his position, thus prolonging a five-week long political crisis.
On Friday, the leu’s exchange rate hit a record low of 4.6481 versus the euro. The previous negative record, of 4.6397 to the euro, was set on July 24. The currency has lost 4.4% against the euro over the past month. Since January, the leu weakened by 7.6%.
In the money market Monday morning, overnight rates stood flat at 4.6%-5.2% a year.