The leu opened at 4.471/4.473 to the euro, similar to 4.4705/4.474 to the euro at Friday closing.
It soon gained ground and traded at 4.467/4.469 to the euro by 10:00 local time (GMT0700).
“The market is still frozen, the volumes are very low, so that any higher order moves the quotes,” a dealer said. “Most players expect the central bank to step in indirectly close to the middle of the session, to keep the official rate below the all-time low (of 4.4662 per euro, set on May 24).”
On Friday, the central bak set the leu’s reference rate at 4.4655 per euro, slightly weaker on the day.
On the money market Monday morning, overnight rates rose to 4.9%-5.4% a year, from 1.5%-2% a year Friday.