The leu opened flat at 4.53 to the euro but further appreciated, with market participants also suspecting a covert intervention from the central bank to support the national currency
At around 10:10 am, the leu traded at 4.505/4.509 per euro.
The central bank set the leu’s reference at 4.5224 versus the euro Monday, 0.6% stronger from 4.5535 units in the previous session. Friday, the leu’s rate fell to its lowest level since October 2012.
Against the US dollar, the leu’s indicative appreciated to 3.4191 units, from 3.4402 units a session earlier.
In the money market Tuesday morning, overnight rates were at 3%-4% a year.