National currency drops steeply against EUR to 4.7569 units, speculative attack suspected

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The national currency has dropped steeply on Wednesday, setting another historic low against the European single currency to 4.7569 units, by which EUR is by 0.91% higher than on Tuesday, according to the exchange rate from the National Bank of Romania (BNR).

It is the tenth time the RON hits historic low in January.

Since December 24, 2018, the national currency has depreciated by 2.5% against EUR.

The US Dollar has reached RON 4.1883, by 0.94% higher than in the previous day.

The GBP has appreciated to RON 5.4424, up against RON 5.3582 on Tuesday.

The Swiss Franc is up to RON 4.1946, up against RON 4.1621 on Tuesday.

The gram of gold is quoted at RON 173.0400 (RON 171.2866 on Tuesday).

Sources say a speculative attack has taken place on the market, based on the fact that the National Bank cannot simultaneously defend the interest rates and the exchange rate, hotnews.ro informs.

Commercial banks sell the European single currency at higher exchange rates: Banca Transilvania – RON 4.79 per EUR, BCR – RON 4.81, BRD – RON 4.82, UniCredit – RON 4.81, CEC Bank – RON 4.78, Raiffeisen Bank – RON 4.79.

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