Exchange Rate in Romania
Romania - Exchange Rate
Leu slides to all-time low in March on coronavirus fears
The Romanian leu (RON) lost ground against the euro over the past month and hit an all-time low of 4.86 per EUR on 18 March amid market fears over the fast-spreading coronavirus globally and its impact on economic activity. The leu recovered somewhat thereafter as the Central Bank intervened in the FX market to halt its fall. On 3 April, the leu ended the day at RON 4.83 per EUR, marking a 0.4% depreciation from the same day in March. Moreover, the currency was down 1.6% year-on-year and 0.9% year-to-date.
The leu has been weakening since the start of February when Parliament ousted Prime Minister Ludovic Orban’s three-month old minority government in a no-confidence vote. Since then, it acted as caretaker government until 14 March, when he was reinstated as head of government to tackle the coronavirus outbreak. The currency was further pummeled by the sharp sell-off in risky assets due to coronavirus-induced panic and growing fears over the pandemic’s impact on the real economy and financial system.
As things currently stand, the leu is seen weakening further ahead, with the country’s swelling fiscal and current account deficits continuing to exert downward pressure.
FocusEconomics panelists project the RON to end 2020 at 4.98 per EUR and 2021 at 5.02 per EUR.
Romania - Exchange Rate vs EUR Data
|Exchange Rate (vs EUR)||4.52||4.54||4.66||4.66||4.78|
5 years of economic forecasts for more than 30 economic indicators.
Romania Exchange Rate vs EUR Chart
Source: Thomson Reuters.
|Bond Yield||4.49||0.23 %||Dec 31|
|Exchange Rate||4.26||-0.34 %||Dec 31|
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May 10, 2022
At its meeting on 10 May, the National Bank of Romania (NBR) raised the policy rate to 3.75% from April’s 3.00%, thus marking the sixth successive hike.
April 13, 2022
Industrial output increased 0.6% compared to the same month a year earlier in February, following January's 0.4%.
April 12, 2022
Consumer prices rose a seasonally-adjusted 1.88% over the previous month in March, picking up from the 0.58% rise recorded in February.
April 5, 2022
At its meeting on 5 April, the National Bank of Romania (NBR) raised the policy rate to 3.00% from 2.50%, marking the fifth successive hike.
March 14, 2022
Consumer prices increased a seasonally-adjusted 0.58% in February over the previous month, easing from January's 1.48% rise.