The leu opened at 4.5165/4.5175 to the euro, slightly stronger than 4.519/4.52 to the euro at Wednesday closing.
It further gained ground and touched an early high at 4.511/4.512 per euro, but later reversed the appreciation trend. Minutes past 10:00 local time (GMT0700), the leu traded at 4.515/4.518 per euro.
“Volumes are increasing and most likely the orders are placed by corporate clients,” a dealer said.
On Wednesday, Romania’s central bank announced an official rate of 4.5168 per euro, slightly weaker than 4.5144 per euro the day before.
On the money market Thursday morning, overnight rates were at around 4.75%-5.25% a year, as the market expects the results of the central bank’s board meeting later today. Analysts expect the central bank to keep its monetary policy rate at 5.25%.