Euro close to record-high vs. RON amid political woes

The Romanian currency, RON, weakened 0.3 percent on Friday against the European single currency (EUR), to 4.6618/EUR, according to central bank’s foreign exchange reference rate, amid political tensions, after President Klaus Iohannis demanded the resignation of PM Viorica Dancila.

On January 23, 2018, EUR reached a historical maximum of 4.6679 against the RON.

On Thursday, central bank’s foreign exchange reference rate was 4.6490/EUR.

The EUR/RON exchange rate rose suddenly after Iohannis’ statement, at 11:00 AM, peaking at 4.6650, but slightly declined afterwards. At 1:10 PM, RON was exchanged at 4.6623/EUR.

President Klaus Iohannis made a statement demanding the resignation of PM Viorica Dancila, saying that she is unable to handle her role as prime minister and that she is turning the government into a vulnerability for Romania.

A few hours earlier, PM Dancila had informed the president that she would not attend the meeting scheduled for today at the Cotroceni Palace, where the president had intended to mediate the apparent conflict between the government’s representatives and the National Bank of Romania.