Romania’s RON falls to 3 week low vs. EUR, 1-year low vs. USD, CHF

Sorin Melenciuc 10/08/2018 | 15:00

Romania’s currency, RON, depreciated by 0.3 percent against the European single currency on Friday, the exchange rate rising to 4.6557/EUR, the highest level since July 20, National Bank of Romania (BNR) data show. The US currency hit a 1-year record of RON 4.0594, while the Swiss currency rose to RON 4.0811, a record high since July 2017.

On Thursday, the reference exchange rate was RON 4.6427/EUR. US dollar gained 1.4 percent to 4.0594 RON, the highest level since June 2017.

Against the European single currency, Romania’s currency reached the all-time low of 4.6695/EUR on June 21, 2018.

“Developments in external markets and domestic tensions have been felt in the financial market,” Banca Transilvania analysts said in a report released on Thursday.

Political tensions have increased during the last few months in Romania, and a large protest of Romanians living abroad is announced on Friday in Bucharest.

On Friday, Chartered Financial Analyst (CFA) Romania analysts have estimated that the EUR/RON average exchange rate will reach all-time highs of RON 4,72/EUR in the next six months and RON 4,77 by mid-2019.

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