Hundreds of millions of euros heading into Romania during a major share offering are set to add pressure in the coming weeks to the local currency market, where any sharp moves in the leu have been tightly controlled by the central bank.

The leu will probably see inflows when foreign investors exchange funds to buy local shares in power producer Hidroelectrica SA, whose offering is estimated at as much as 8.7 billion lei ($1.9 billion) and is expected to close on July 4.

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