The leu opened around 4.54 per euro, close to 4.5365/4.5395 per euro at Thursday closing.

In the first hour, the leu even managed to gain slightly, trading at 4.5355/4.5370 to the euro at around 10:20 local time (GMT0820).

According to dealers, investors fear the central bank might step into the market to prop the local currency, as in the previous session, so that the leu will most probably trade in a narrow range by noon.

The central bank set Thursday the leu’s exchange rate at 4.5379 per euro, slightly changed from the day before.

On the money market Friday morning, overnight rates rose to 5.5%-6% a year, from 5.2%-5.7% a year in the previous session.

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