Romanian currency back to low as Constitutional Court invalidates referendum

Romania's currency the leu re-started to depreciate for the second day in a row on Tuesday (August 21 ), after managing to gain some strength in recent weeks. The latest official rate for the Romanian currency was RON 4.49 for EUR 1, an decrease of 0.11 percent on the day before.

This evolution came after the country's Constitutional Court finally decided the presidential impeachment referendum was invalid and that suspended president Traian Basescu should return to office. The decision was met with strong political statements and with several hundred people protesting in the street downtown Bucharest on Tuesday evening (August 21 ). The leu – or RON – was heavily affected by the political quarreling in the country ahead of the presidential impeachment referendum, then strengthened for a while only to reach the historic low of RON 4.65 for EUR 1 on August 3. The leu has been depreciating since the beginning of July. The average rate in June was of RON 4.46 for EUR 1. In July, the average rate was RON 4.54 for EUR 1. editor@romania-insider.com