Romanian RON sinks to new historic low on political unease

Romania's currency the RON slipped to a new historic low on Thursday (July 5 ), because of political pressures and the unease created by the upcoming vote on the presidential impeachment. The reference rate was at RON 4.4796 for EUR 1, higher than the RON 4.4715 in the previous monetary session.

Pundits expect the rate to reach RON 4.55 per EUR 1. ING's latest research notes indicate the possibility for the RON to further depreciate, even though the Government has been careful and kept its ties to the international financial institutions intact, unlike Hungary, with which Romania was briefly compared. Romanian MPs will vote for or against suspending president Traian Basescu on Friday afternoon (July 6 ). editor@romania-insider.com (photo source: arhivafoto.ro)