The leu opened at 4.466/4.468 to the euro, similar to 4.466/4.471 to the euro at Friday closing. Monday, the local market was closed for a national holiday.
The leu traded in a narrow range in the first hour of the session, as transferred volumes were insignificant. The other markets in the region were also seeing low volumes, dealers said.
Romania’s central bank set Froday the leu’s refrence rate at 4.4648 per euro, slightly stronger on the day. Against the US dollar, the leu’s indicative dropped for the third straight session and hit a new all-time low of 3.6231 units, from 3.5939 units a day earlier.
On the money market, overnight rates were at 4.75%-5.25% a year, little changed on the day.