The leu opened at 4.403/4.405 per euro, from 4.405/4.408 per euro at Tuesday close and hovered around that level for the first hour of trading.

Elsewhere in the region, the leu’s peers were losing around 0.1% versus the European common currency.

The central bank set the leu’s reference at 4.4106 to the euro Tuesday, the highest rate since end-April 2012. Against the US dollar, the leu’s reference gained 0.9% on the day to 3.3608 units.

In the money market Wednesday morning, overnight rates were at 5.5%-6% a year.

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