Against the US dollar, the leu’s indicative lost 1.4% at 2.9823 units, from 2.8875 units Tuesday.
The leu opened at 4.1835/4.1855 per euro, from 4.178/4.1805 per euro at Tuesday’s closing and further lost ground, amid a negative sentiment in the region after Moody’s cut Portugal’s rating to “junk”. The ratings agency warned the authorities in Lisbon might need more international aid before it could borrow at reasonable costs again.
At around 1:00 pm local time, the leu traded at 4.2005/4.2035 to the euro.
On the money market, overnight rates fell to 2.9%-3.4% a year, from 3.4%-3.9% a year in the previous session.