Romania’s RON is the worst-performing emerging-market currency this year

The Romanian currency, the RON, is the worst-performing emerging-market currency this year, following a steep depreciation against the euro and the US dollar, according to Bloomberg.

“Romania’s currency touched a record low against the euro after suffering its biggest one-day loss in more than five years. It later pared the losses, but it’s still the worst-performing EM currency this year on investor concern over a tax on bank assets,” Bloomberg said.

Against the US dollar, the Ron is also the worst-performing emerging-market currency, followed by the Indian rupee.

On Friday, the Romanian currency falled deeper against the European single currency as investors begin to be more skeptical about the local outlook and due to the fast deterioration of the trade and current account balance.

The exchange rate rose by 0.2 percent to 4.7569/EUR, an all-time low, National Bank of Romania (BNR) data show.

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Compared to the end of 2018, the RON lost 2.2 percent of its value.