Against the US dollar, the leu’s indicative lost over 1% on the day to 3.2557 units.
The leu opened modestly down at 4.36/4.362 per euro, from 4.3585/4.361 per euro at Tuesday’s closing. It further lost ground and hit an early low of 4.367 per euro, but euro sales helped push the national currency higher.
At around 13:00 hours, the leu traded at 4.357/4.3595 to the euro. Market participants believe the central bank stepped in to stop the leu from weakening too much.
Elsewhere in the region, the leu’s peers were falling versus the euro, after Germany failed to sell a planned EUR6 billion in 10-year bonds. The Europe’s largest economy sold EUR3.6 billion in 10-year paper earlier Wednesday at a 1.98% annual yield, a level many investors believed it was too low.
On the money market, overnight rates fell to 1.9%-2.4% a year, from 2.4%-2.9% a year in the previous session.