Rating agency Moody’s on Wednesday downgraded the ratings of Societe Generale and Credit Agricole for long term debts and deposits. Societe Generale’s rating dropped to Aa3, from Aa2, while Credit Agricole’s rating dropped to Aa2 from Aa1.
The leu opened at 4.288/4.290 against the euro, compared to 4.2815/4.2825 at closing the day before.
Later, euro purchase orders brought the leu to an early low of 4.295/4.297 against the European coin.
At around 10:00 local time (GMT0700), the leu traded at 4.288/4.291 to the euro.
The central bank computed Tuesday the leu’s reference at 4.2822 per euro, slightly weaker than 4.2805 per euro a day before.
On the money market Wednesday morning, overnight rates eased up to 4.5%-5% a year, from 4.1%-4.6% a year in the previous session.