BUSINESS

BNR reference rate edging close to historical high

The RON tempered its drop against the EUR, the exchange rate dropping below RON 4.36/EUR and the National Bank of Romania (BNR) announcing a reference exchange rate of RON 4.3585/EUR yesterday, the lowest level in the last 16 months and close to the historical low of RON 4.3688/EUR, Mediafax informs. A lower value was last posted on June 30, 2010, back when the rate reached its historical high. On Wednesday, BNR posted an exchange rate of RON 4.3460/EUR. The RON lost ground to the USD too, the rate climbing by RON 0.0084, from RON 3.1542/USD to RON 3.1626/USD. The BNR’s RON/CHF exchange rate climbed by RON 0.0182, from RON 3.5698/CHF to RON 3.5880/CHF. The RON depreciated at the start of the interbank trading day on Thursday, being affected by drops on international markets determined by the uncertainties surrounding Greece, the rate climbing above RON 4.36/EUR in the first hour. The main European shares resumed their growth later on, so that regional currencies recovered their losses, as a consequence of the investors’ hopes that a possible collapse of the Greek government would lead to the avoidance of a referendum. Shortly before 1 PM, when BNR is picking market quotations in order to establish the reference exchange rate, the trading was being done at RON 4.3580-4.3590/EUR.

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