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October 31, 2020
BUSINESS

Euro exceeds RON 4.2 threshold, RON/SF rate hits all-time high

The National Bank of Romania (BNR) yesterday announced a RON/EUR reference exchange rate of RON 4.2088/EUR, the highest since early March, and a RON/USD rate of RON 2.9820/USD. The RON therefore fell RON 0.0332 (0.80 per cent) against the euro and depreciated by RON 0.0652 (2.24 per cent) to the USD. On the inter-banking market, the euro appreciated to RON 4.2003, Mediafax reports. Also, the RON/Swiss Franc exchange rate reached an all-time high of RON 3.5050/SF. The RON/SF rate was RON 0.0686 higher than Wednesday’s RON 3.4364, and exceeded the Dec. 30, 2010 high of RON 3.4450/SF. “The losses registered by the RON over the last two weeks are higher than those of regional currencies. This suggests that market participants perceive Romania as riskier than other countries in the region. As long as uncertainty over Greece persists, the RON could register further losses against the euro,” according to an ING Bank report Thursday.

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