Romanian Leu Seen Rising After Govt Wins No-Confidence Vote

However, the opposition was only eight votes shy from winning a no-confidence motion in parliament and another motion could lead to a different result, ING said Wednesday.

„One should not expect big moves as uncertainty persists,” the report noted.

The leu strengthened against the euro Wednesday amid renewed investor confidence and the central bank’s reference rate won 0.16% on the day at 4.2254 units. Tuesday, the leu hit this year’s low at 4.24 per euro.

A group of 37 Senators already challenged in court a most unpopular government decision to reduce pensions by 15%, while the social democrats announced they will appeal the whole package of fiscal and social measures proposed by the government.

However, the government’s austerity measures are likely to get the thumbs up from the Constitutional Court, after the ruling democrat liberals managed to appoint two of their candidates at the court, ING said.