The value of the national currency dropped yesterday, as compared to the euro, causing BNR (the National Bank of Romania) to announce a 1.92 increase in the reference exchange rate to RON/EUR 4.4653. This is the highest value of the last ten weeks. The central bank reported a higher rate on 25 June of RON/EUR 4.4870.
The value of the national currency has also dropped in relation to the US dollar, yesterday’s reference exchange rate going up from RON/USD 3.3746 to RON/USD 3.3820. The RON/CHF quotation has gone up from RON/CHF 3.6043 to RON/CHF 3.6053. RON/USD and RON/CHF exchange rates are determined by BNR in accordance with RON/EUR parity and EUR/USD and EUR/CHF exchange quotations.
“The relatively calm external climate prior to the issuing of key U.S. data on Friday could enable a higher degree of movement than usual where relatively small volumes are concerned, so our predictions on the devaluation of RON are cautious. However, the positive background of European markets this morning (yesterday morning) should restrict potential losses for the local currency”, an ING Bank report shows, as cited by Mediafax.
