Exchange Rate in Romania
Romania - Exchange Rate
Leu weakens to an all-time low in late December amid protests against judiciary reform
The Romanian leu (RON) came under pressure in late December amid unrest caused by protests against government plans to reform the judicial system. On 29 December, the leu closed the day at an all-time low against the euro of 4.67 RON per EUR, which represented a slight 0.6% depreciation over the same day of the previous month. As of 29 December, the leu had lost 2.8% of its value year-to-date and was also 2.8% weaker compared to the same day last year.
In 2017, the leu hit several record lows, as controversial decisions by the Social Democrat-led government coalition prompted widespread protests. Romanians have been protesting over claims that the government wants to overhaul the justice system to debilitate the fight against corruption. At the end of November, the U.S. State Department called on Romania's parliament not to approve laws that could hamper the judicial fight against corruption, and in late December seven EU member states urged the government not to weaken the independence of the judiciary.
All told, currency-related distress is likely to mitigate going forward. The economy remains buoyant, and the Central Bank is expected to tighten its monetary stance; however, political unrest could continue, and the current account balance will remain in deficit due to the country’s capital imports. The currency is thus expected to remain broadly stable against the euro this year and appreciate slightly in 2019.
The FocusEconomics Consensus Forecast panel expects the RON to end 2018 at 4.62 per EUR, and it projects the leu will appreciate further, to 4.56 per EUR, by the end of 2019.
Romania - Exchange Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 3.26 | 3.69 | 4.15 | 4.30 | 3.89 |
Romania Exchange Rate Chart
Source: Thomson Reuters.
Romania Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 4.95 | 0.23 % | Jan 14 |
| Exchange Rate | 4.08 | -0.34 % | Jan 14 |
| Stock Market | 6,934 | -0.59 % | Jan 14 |
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Economic News
Romania: Industrial production loses steam in November
January 14, 2019
Industrial output grew 2.6% in annual terms in November, below October's 3.5% expansion.
Romania: Inflation falls to one-year low in December
January 14, 2019
Consumer prices rose 0.2% over the previous month in December, contrasting November’s 0.1% month-on-month decline.
Romania: Central Bank holds rates unchanged at its first 2019 meeting
January 8, 2019
At its first monetary policy meeting of the year, held on 8 January, the National Bank of Romania (NBR) kept the policy rate unchanged at 2.50%.
Romania: Industrial production gains steam in October
December 12, 2018
Industrial output expanded 3.5% in annual terms in October, well above September's 0.5% growth rate, which had marked the weakest record in 17 months.
Romania: Inflation falls to almost one-year low in November
December 12, 2018
Consumer prices dropped 0.1% over the previous month in November, contrasting October’s 0.5% increase.
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