Exchange rate climbs past RON 5/EUR threshold amid post-election turmoil
The National Bank of Romania (BNR) announced on May 6 an exchange rate of RON 5.0378 /EUR. This is a 1.21% increase on the previous RON 4.9775/EUR exchange rate and the first time it has exceeded the RON 5 threshold, marking a historical…
Simona Fodor · Journalist
· Updated · 1 min read
The National Bank of Romania (BNR) announced on May 6 an exchange rate of RON 5.0378 /EUR. This is a 1.21% increase on the previous RON 4.9775/EUR exchange rate and the first time it has exceeded the RON 5 threshold, marking a historical high.
The exchange rate stood at an averageof RON 4.97/EUR last year, and RON 4.94/EUR the year before.
The RON 5/EUR exchange rate is seen as a psychological threshold that hasn’t been crossed despite the various crises experienced in the past five years.
The shift comes as prime minister Marcel Ciolacu resigned on May 5and the Social Democrat Party (PSD) pulled out of the governing coalition. Today, May 6, Interior Affairs minister Cătălin Predoiu was announced as interim PM.
The Romanian currency also lost ground against the US dollar, with an exchange rate of RON 4.4517/USD, up 6.14 bani (+1.40%) compared to May 5, when it stood at RON 4.3903/USD.
Romania’s central bank reportedly sells from reserves to keep the exchange rate stable
(Photo: Henning Marquardt/ Dreamstime)
