Romania’s RON hits fresh all-time low vs. EUR for 3rd day in a row

Romania’s currency, RON, has reached on Friday a fresh all-time low against the European single currency for the third day in a row, the exchange rate rising to 4.6782/EUR, National Bank of Romania (BNR) data show.

On Thursday, the reference exchange rate was RON 4.6764/EUR, also an all-time low. Until this year, the previous all-time low against the European single currency was reached on June 21, 2018, of 4.6695/EUR.

Experts warn that RON’s depreciation is normal, due to large current account and fiscal deficits, but expects the central bank to step in.

US dollar slightly appreciated to 4.0586 RON.

Romania’s three-month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, stood on Friday to 2.88 percent, a 7-month low.