RON falls to new low on Romania’s political turmoil

The Romanian currency RON fell to new historic low against the Euro, reaching an exchange rate of RON/EUR 4.4715, as foreign players are betting on a RON weakened by political instability, although the central bank intervened in the market to ease the RON depreciation, according to Mediafax newswire.

Wednesday’s exchange rate is 0.1 percent lower against the previous record that was registered on May 24.

The RON lost 0.5 percent against the dollar, with the RON/USD at 3.5542.

The RON has lost 0.5 percent against the Swiss franc, reaching a RON/CHF exchange rate of 3.7236.

The political crisis in Romania reached a new high today, after media reports said the ruling coalition USL prepares to suspend president Traian Basescu. USL has already revoked the presidents of the Parliament chambers and the Ombudsman.

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