The leu opened at 4.467 to the euro, similar to 4.465/4.469 to the euro at closing Monday. It further gained some ground, trading at 4.463/4.466 to the euro after the first hour of the session.
The transferred volumes are very low both on the local market and on other markets in the region, a typical situation for summer days, a dealer said. The central bank was not present in the market in the morning, but it will most probably step in by mid-day if the leu falls towards 4.47 units to avoid setting a new all-time low of the official exchange rate, the dealer added.
The central bank set Monday the leu’s reference rate at 4.4654 per euro, almost unchanged from 4.4655 per euro a day before, but very close to an all-tme low of 4.4662 per euro, reached on May 24.
On the money market Tuesday morning, overnight rates were at 5%-5.5% a year, flat on the day.