Romania’s currency recovers 0.6 pct vs. EUR from all-time lows

Sorin Melenciuc 31/01/2019 | 13:40

The Romanian currency has reversed part of its losses against the European single currency since the all-time low registered on Friday as investors begin to be more optimistic. The exchange rate declined on Thursday for the fourth day in a row to 4.7348/EUR, National Bank of Romania (BNR) data show.

Compared to the all-time low of 4.7648/EUR registered on January 25, the RON recovered 0.6 percent.

On Wednesday, the reference exchange rate was RON 4.7569/EUR, also an all-time low.

Analysts say RON’s depreciation is based on improved sentiment on the foreign markets.

“The Romanian leu followed its regional peers yesterday and strengthened over 100 pips against the single currency. (…) Markets seem in an optimistic mood following the Federal Reserve’s apparent dovish twist, hence we expect the EUR/RON to continue to test lower,” ING Bank analysts said on Thursday.

The RON is also regaining value against other major global currencies. US dollar lost 0.8 percent to RON 4.1265.

Romania’s three-month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, stood on Thursday to 3.06 percent.

BR Magazine | Latest Issue

Download PDF or read online: July 2023 Issue | Business Review Magazine

The July 2023 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “At a Crossroads: Budget Deficit Endangering Romania’s Economic
Sorin Melenciuc | 31/07/2023 | 14:14

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of

    I agree with the storage and handling of my data by

    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue