Home / BUSINESS / NEWS / RON reaches new historic low, EUR exceeds the 4.7 units threshold. BNR official points to political statements

RON reaches new historic low, EUR exceeds the 4.7 units threshold. BNR official points to political statements

The European single currency is up by 0.23% against past session, with an exchange rate against the national currency of 4.7081 units.

The RON has depreciated by 0.0106 units, down from 4.6975 units for EUR last Friday, reaching a new historic low. The USD has also appreciated to RON 4.1377, by over RON 0.0185 (0.45%), as compared to last week. This is the highest level since November 13, 2018, when the USD/RON exchange rate was of 4.1469 units.

The Swiss franc went from RON 4.1441 to RON 4.1501.

The GBP fell from RON 5.3305 to RON 5.3199.

The price of the gram of gold fell from RON 170.2283 to RON 170.1500.

Among the negative effects is the rise of instalments for loans in EUR, as well as higher rents, the increase of bills for mobile operators or airline prices, more expensive imports, but cheaper exports (higher profits for exporters), inflation, more expensive consumer goods.

Currency market is influenced by political statements

Adrian Vasilescu, counselor of National Bank Governor Mugur Isarescu, has warned on Monday that the currency market is influenced also by political statements, besides the long-term influence from economy, and lead to the decrease in value of the national currency.

Vasilescu had mentioned for Digi 24 TV private broadcaster the statements made by ALDE Senator Daniel Zamfir, announcing he would summon BNR Governor Mugur Isarescu and Competition Council head Bogdan Chiritoiu to hearings at the economic committee for explaining the calculation of ROBOR Index.

“Investors are rational people, although for some time many economists say they are emotional. Indeed, sometimes emotions surface, which leads to panic and panic leads to wrongheaded decisions. But it is too soon for the important investors on the currency market to made emotional decisions,” Vasilescu said.

About Victor Lupu