Romania: Leu drops after government collapses
May 1, 2012
On 30 April, the Romanian leu (RON) traded at 4.40 per EUR, which was 0.4% weaker than at the end of the previous month. The April loss follows the 0.7% drop seen in March. In annual terms, the leu has lost 6.3% compared to the same month last year. The collapse of the government on 27 April prompted the leu to fall to 4.46 RON per EUR in intraday trading on 1 May, which represents an all-time low. Since the beginning of the year, the leu has lost 1.8% versus the EUR on the back of continued political uncertainty. That said, a weaker leu may help support exports and boost the faltering economy.