RON hits new low against EUR

The Romania currency RON has hit a new historic low against the Euro, losing 0.17 percent and reaching an exchange rate of RON/EUR 4.5571 on Monday, according to the National Bank of Romania.

The RON dropped to a new historic low against the US dollar, losing 0.34 percent to RON/USD at 3.7399, against Friday trading. One gram of gold gained 0.64 percent, reaching RON 190.4936.

Finance minister Florin Georgescu said today that the RON return below 4.5 for a Euro, once the political situation clarifies. The minister may be referring to the impeachment referendum due on July 29, when Romanians will decide if they want suspended president Basescu back in office.

The RON has lost almost 1 percent against the Euro since July 6, when MPs suspended President Basescu. The domestic currency has fallen by 3.4 percent since May 7, when the Ponta government came to power.

The RON has depreciated by 5.5 percent and 11.9 percent against the Euro and the US Dollar since December 30 2011.

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