The leu opened down at 4.5345/4.5365 per euro, from 4.533/4.534 per euro at Monday close. It later gained ground and at around 10:00 am traded at 4.519/4.522 per euro.
“The central bank has most likely stepped in to support the leu so that it may bring the exchange rate higher,” said one dealer. The leu’s exchange rate fell to a fresh historic low of 4.5275 per euro Monday after the parliament voted to impeach President Traian Basescu pending a referendum.
“The June inflation data had no significant impact on the leu’s evolution this morning,” the dealer added.
The Romanian consumer price index was unchanged on the month in June, but the annual inflation accelerated to 2.04%, ending a seven-month slowdown, the statistics institute INS said earlier Tuesday. In May, the annual rate fell to an all-time low of 1.79%.
In the money market Tuesday morning, overnight rates were at 5%-5.5% a year.