Romania’s RON falls to fresh all-time low vs. EUR for 3rd day in a row

Romania’s currency, RON, has reached on Thursday a fresh all-time low against the European single currency for the third day in a row, the exchange rate rising to 4.6890/EUR, National Bank of Romania (BNR) data show.

On Wednesday, the reference exchange rate was RON 4.6830/EUR, also an all-time low.

Experts warn that RON’s depreciation is normal due to large current account and fiscal deficits but expects the central bank to step in.

On Monday, the central bank eased the pressure on RON through an unexpected deposit tender of RON 12.9 billion, reducing the excess liquidity in the market.

US dollar gained 0.15 percent to 4.1126 RON.

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Romania’s three-month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, rose on Thursday to 2.90 percent.