The leu opened at 4.465/4.467 to the euro, weaker than 4.456/4.459 to the euro at Tuesday close.
The national currency strengthened modestly in the first hour of trading and, at around 10:30 local time (GMT0830), it traded at 4.46/4.461 per euro.
Tuesday, the central bank set the leu’s reference at 4.4589 versus the euro, the highest rate since December 16. The leu’s indicative against the US dollar firmed to 3.2984 units, from 3.3264 units in the previous day.
In the money market Wednesday morning, overnight rates were flat at 3.5%-4% a year.
Romania’s central bank Tuesday lowered its main monetary policy rate by a quarter of a point to a fresh all-time low of 3.5% a year, in line with market expectations. It was the sixth consecutive cut since July 2013 and analysts believe increased inflationary pressures and the recent developments in emerging markets will prompt the bank to halt its monetary easing cycle.