Market participants suspect the central bank has stepped into the market once again to support the leu and keep it from weakening too much against the euro.
The leu also appreciated modestly against the US dollar and traded at 3.3074 units, from 3.3084 units in the previous session.
The leu opened down at 4.377/4.38 per euro, from 4.374/4.376 per at Thursday’s closing. It further depreciated and hit an early low of 4.383 per euro before turning to gains.
At around 13:00 hours, the leu traded at 4.375/4.3775 per euro.
Participants say some players bet on a no-confidence vote against the Ungureanu Cabinet and put pressure on buying. The Romanian Parliament today debates a no-confidence motion against the three-month old government headed by Mihai-Razvan Ungureanu.
The Opposition needs 231 votes in favor to pass the motion and overthrow the government.
On the money market, overnight rates were at 3.8%-4.3% a year, from 3.5%-4% a year Thursday.