RON hits new historical low vs. EUR – 4.3098

Even though the meeting of the inter-banking market was less than spectacular, the sole European currency reached a highest level of RON 4.3218 during transactions. Since the beginning of the year, the RON lost over 8 per cent in front of the EUR, and today's referential rate is RON 0.324 higher to the value calculated by BNR during the highest meeting of the year 2008, that reached RON 3.9852/EUR.

The other currencies of the region registered slight appreciations, contrary to the tendency of the RON. The Vice-Governor of the central bank, Cristian Popescu, declared on Wednesday during an economical conference organized in Vienna, that the increasing depreciation of the RON that occurred lately was generated by regional issues, rather than by the issues of the Romanian economy. In the opinion of the BNR Vice-Governor, the increasing volatility of the RON could persist yet the imbalance in the exchange rate might be compensated as well.