Romania’s RON falls to 3 week low vs. EUR, 1-year low vs. USD, CHF

Sorin Melenciuc 10/08/2018 | 15:00

Romania’s currency, RON, depreciated by 0.3 percent against the European single currency on Friday, the exchange rate rising to 4.6557/EUR, the highest level since July 20, National Bank of Romania (BNR) data show. The US currency hit a 1-year record of RON 4.0594, while the Swiss currency rose to RON 4.0811, a record high since July 2017.

On Thursday, the reference exchange rate was RON 4.6427/EUR. US dollar gained 1.4 percent to 4.0594 RON, the highest level since June 2017.

Against the European single currency, Romania’s currency reached the all-time low of 4.6695/EUR on June 21, 2018.

“Developments in external markets and domestic tensions have been felt in the financial market,” Banca Transilvania analysts said in a report released on Thursday.

Political tensions have increased during the last few months in Romania, and a large protest of Romanians living abroad is announced on Friday in Bucharest.

On Friday, Chartered Financial Analyst (CFA) Romania analysts have estimated that the EUR/RON average exchange rate will reach all-time highs of RON 4,72/EUR in the next six months and RON 4,77 by mid-2019.

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Sorin Melenciuc | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue