The leu opened at 4.379 per euro, from 4.375/4.3755 per euro at Tuesday close. After the first hour, the local currency touched an early low at 4.3845 to the euro.
Dealers said the leu depreciation was caused by euro demand from corporate clients, which was no longer offset by foreign currency sale orders of foreigners, as well as by the decrease of leu interest rates.
Bonds of RON2.6 billion reached maturity Wednesday, which are added to the RON2.5 billion notes that matured last Tuesday. Also, dealers said market liquidity is supplemented by the payments made by the Finance Ministry.
Romania’s central bank Tuesday set the leu’s indicative at 4.3749 versus the euro, 0.2% weaker on the day. The leu fell against the US dollar as well and the indicative reached 3.3625 units, versus 3.3556 units in the previous session.
In the money market Wednesday morning, overnight rates were at 3.75%-4.25% a year.