The leu opened higher at 4.5190/4.5225 per euro, from 4.5235/4.5255 per euro at Tuesday close, but then lost ground up to 4.5230/4.5245 units against euro.
It later gained ground and at around 10:00 a.m. it traded at 4.5205/4.5220 per euro.
“Some foreign investors buy euros while local banks are selling euros. The central bank probably intervenes indirectly for the leu to reach a new high. Hence, it is hard to say whether the central bank really intervenes considering the low traded volumes,” a dealer said.
The central bank Tuesday set the leu’s reference at 4.45206 to the euro, stronger from an all-time low of 4.5275 to the euro a day earlier. Against the US dollar, the leu’s indicative won 0.5% on the day to 3.6675 units. Monday, the leu traded at a record low of 3.6848 versus the greenback.
In the money market Wednesday morning, overnight rates were at 4.75% – 5.25% a year.