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Bucharest
January 25, 2022
BUSINESS

RON devaluates to 10-month low

The Romanian currency fell against the EUR in the first part of the day, under the impact of significant buy orders for European currency, issued by commercial customers.

The Romanian currency fell against the EUR in the first part of the day, under the impact of significant buy orders for European currency, issued by commercial customers, so the Central Bank (BNR) announced a reference exchange rate of 4.3112 RON/EUR – the highest in the last 10 months, Mediafax reports.

A higher level, of 4.3137 RON/EUR, was announced on 26 November 2010. Tuesday’s exchange rate is 1.28 Ban higher than the level reached during Monday’s session, of 4.2984 RON/EUR.

The Romanian currency also devaluated against the Swiss Franc, with the official exchange rate being 1.52 Ban higher, from 3.5165 RON/CHF to 3.5317 RON/CHF. For the US currency, BNR posted a reference exchange rate of 3.1897 RON/USD, which is 0.73 Ban under the previous level of 3.1970 RON/USD.

The first operations on the interbank market were conducted at 4.3000 – 4.3030 RON/EUR, which is 0.45 Ban under Monday’s closing quotations of 4.3045-4.3075 RON/EUR.

“There has been a commercial flow of purchasing euros (orders issued on behalf of corporate customers of banks) these days, which did not find counterparty in sales and resulted in higher quotations. The traded volumes of foreign currency were above the average of a regular session,” a bank dealer said.

Currencies throughout the region continued to have modest gains of about 0.6 pc, following news that European officials are coordinating their efforts in view of a plan meant to solve the crisis of sovereign debts.

The national currency recovered the losses reported in the first half of Tuesday’s inter-banking session and began to appreciate slightly, with rates ebbing around RON 4.3/EUR after reaching the record rate of RON 4.3140/EUR.

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