The leu opened at 4.5650/4.5670 per euro, higher from 4.5715/4.574 per euro at Monday close. The leu further touched 4.5620/4.5640 but some euro buying orders brought the leu to an early low at 4.5695 versus the euro.
Dealers suspect the central bank indirectly intervened on the market through placing euro selling orders at lower rates, which brought the leu under 4.56 units, touching an early high at 4.5570.
At 10:10 a.m., the leu gained ground and traded at 4.5560/4.5590 versus the euro.
Romanian central bank governor Mugur Isarescu Monday said the leu’s depreciation against the euro has been within “reasonable” limits considering the latest developments on the local political scene.
On Monday, the leu’s exchange rate won 1.6% on the day to 4.574 units, from an all-time low of 4.6481 units in the previous session. Against the US dollar, the leu’s indicative gained 2.6% to 3.6997 units.
In the money market Tuesday morning, overnight rates increased at 5.25% – 5.75% a year.