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August 15, 2022

RON falls on euro for 4th consecutive day

The RON/euro official exchange rate set by the National Bank of Romania (BNR) yesterday rose by RON 0.52, to 4.4463 RON/euro, the highest consecutive rate on record, despite the central bank stepping in to prop up the RON, Mediafax reported dealers as saying. Financial markets have been under strong pressure since early in the week amid tensions in Greece, where a ruling coalition is yet to be forged and fresh snap elections are expected, most likely in June. The RON/euro exchange rate has toppled one record after another since early in the month, depreciating by 1.1 pc, originally on account of domestic political turmoil, adding to which were fears over the reliability of the euro zone. Since early this year, the RON has fallen by 2.93 against the euro, from RON 4.3197 RON/euro in late December of last year. The USD too started climbing by RON 0.0411, to RON 3.4987/USD, the highest value since RON 3.5420 lei/USD on July 1, 2010. The Swiss Franc (SF), too, rose, to RON 3.7020 lei/SF, the highest rate since Sept 5, 2011, when it hit RON 3.8133/USD. The BNR sets the official RON/USD and RON/SF rates of exchange according to the RON/euro parity and the euro/USD and euro/SF exchange rates.

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