Romania's currency records five day slide against the euro

The Romanian leu's value against the euro has slipped for five consecutive days to reach its lowest level since October. On November 7, the rate stood at 4.5089 and since then the leu has lost ground each day to reach RON 4.5388: EUR 1 today (November 14 ). Although at its lowest value against the euro so far in November, Romania's national currency is still worth more than during October, when the rate reached RON 4.5809: EUR 1 on October 19.

The figure peaked during July and August this year when the rate went over RON 4.6 to EUR 1, hitting RON 4.6481 to EUR 1 on August 3. At the time, the political instability was given as a reason for the leu's slide, with some voices questioning the Central Bank's decisions regarding the national currency. Since then, the leu has gained ground against the euro. The average exchange rate for the first nine months of 2012 was RON 4.43 to the euro, while the year started with a RON 4.3219 to EUR 1 exchange rate. editor@romania-insider.com