The euro reached its highest level ever against the Romanian le (RON) on Friday, January 19. Romania’s National Bank (BNR) announced an official exchange rate of RON 4.6614 for EUR 1, this being the first time when the official rate goes over the RON 4.66 level.

The euro gained 0.77% against the Romanian leu last week, after the government change was announced.

The RON has been on a downtrend against the euro in recent months, due to higher trade and current account deficits. BNR recently announced that it would loosen its grip on the exchange rate and focus more on interest rates.

editor@romania-insider.com