Romania’s RON falls to 1-month low vs. EUR, hits fresh 1-year low vs. USD, CHF

Sorin Melenciuc 13/08/2018 | 13:21

Romania’s currency, RON, depreciated by 0.1 percent against the European single currency on Monday, the exchange rate rising to 4.6607/EUR, the highest level since July 11, National Bank of Romania (BNR) data show. The US currency hit a fresh 1-year record of RON 4.0937, while the Swiss currency rose to RON 4.1152, a fresh record high since July 2017.

On Friday, the reference exchange rate was RON 4.6567/EUR. US dollar gained 0.8 percent to 4.0937 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.

Political tensions have increased during the last few months in Romania, and large protests of Romanians living abroad were organised on Friday.

On Friday, around 100,000 people came in Victoriei Square and called for the resignation of the PSD-led government.

Romanians from abroad were also among the protesters. This was set to be the biggest rally of Romanians from abroad.

But violent clashes occurred between gendarmes and protesters, especially after authorities issued an order for the clearance of Victoriei Square after 11.00 PM.

Close to 450 people received medical care during Friday’s protest. Several gendarmes were also injured.

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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