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 Data
|Exchange Rate (vs USD)||3.69||4.15||4.30||3.89||4.07|
5 years of economic forecasts for more than 30 economic indicators.
Romania Exchange Rate 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 13, 2020
Industrial production slid 14.5% year-on-year in March (February: -2.0% yoy).
May 13, 2020
Consumer prices increased a seasonally-adjusted 0.26% from the previous month in April, below the 0.50% rise recorded in March.
April 14, 2020
Industrial production fell 2.6% year-on-year in seasonally- and working day-adjusted terms in February, matching January’s drop and marking the 11th consecutive month of contraction.
April 10, 2020
Consumer prices rose 0.5% month-on-month in March, up from February’s 0.3% climb.
April 6, 2020
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.