Romania’s RON falls to all-time low vs. EUR

Sorin Melenciuc 09/01/2019 | 13:23

Romania’s currency, RON, declined by 0.1 percent on Wednesday against the European single currency, the exchange rate rising to 4.6722/EUR, an all-time high, National Bank of Romania (BNR) data show.

The previous all-time low against the European single currency was reached on June 21, 2018, of 4.6695/EUR.

On Tuesday, the reference exchange rate was RON 4.6670/EUR.

Experts warn that RON’s dereciation is normal, due to large current account and fiscal deficits.

“With the central bank apparently less concerned about the inflation outlook at least in the short term, we expect a shift higher in the comfort range for the EUR/RON,” ING Bank analysts said in a research note.

US dollar gained 0,1 percent to 4.0803 RON.

Romania’s three-month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, declined on Wednesday to 2.90 percent, a 7-month low.

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