The leu opened at 4.4775 /4.4800 per euro, higher from 4.4800 /4.4805 per euro at Tuesday close, but it further lost ground up to 4.4800.
At around 10:00 a.m. (GMT07:00), the leu traded at 4.4810/4.4850 versus the euro.
“The level of 4.4750 versus the euro is targeted as a psychological threshold from before the political tension had flared up on impeaching president Traian Basescu. As long as this level is overcome, the leu may very soon touch 4.45 units. We will see what happens. For now, the market seems quiet, amid very low traded volumes,” a dealer said.
On Tuesday, the leu fell slightly immediately after the Constitutional Court’s decision, only to return afterwards into positive territory and touch the day’s high at 4.475 per euro in the afternoon. The central bank Tuesday set the reference rate at 4.4987 units to the euro, about 0.1% weaker on the day.
In the money market Wednesday morning, overnight rates kept stable at 4 % – 5% a year.