Profile picture for user irina.popescu0
Irina Marica
Senior News & Features Writer

Irina holds a BA in Journalism. Her hobbies include reading, dancing, photography and she is passionate about music (especially Icelandic music), writing and Japanese literature. In the past, she has worked as an editor for an indoor-circuit TV station and also collaborated with several newspapers. You can send her press releases or feedback on her articles by e-mailing [email protected]

Romanian currency drops to lowest level in over five years

Romania’s National Bank (BNR) announced today, November 8, a reference exchange rate of RON 4.6198 per EUR, amid increased social tensions determined by the Government's new fiscal measures. This represents a growth of 0.5% from the previous day.

The Romanian leu has thus reached its lowest level against the European currency in the last five years and four months.

The increase came amid protests against the proposed amendments to the Fiscal Code, which the Government adopted on Wednesday. The measures, which include the controversial transfer of social contributions from the employer to the employee, have been highly criticized by the business environment, the workers’ unions, and the President.

Last week, President Klaus Iohannis criticized in harsh terms the fiscal measures recently proposed by the Government, saying that this so-called fiscal revolution would most likely turn into a “fiscal turmoil.” He also urged the ruling coalition “not to engage Romania in a fiscal economic adventure with a sad ending.”

Irina Marica, [email protected]

Normal
Profile picture for user irina.popescu0
Irina Marica
Senior News & Features Writer

Irina holds a BA in Journalism. Her hobbies include reading, dancing, photography and she is passionate about music (especially Icelandic music), writing and Japanese literature. In the past, she has worked as an editor for an indoor-circuit TV station and also collaborated with several newspapers. You can send her press releases or feedback on her articles by e-mailing [email protected]

Romanian currency drops to lowest level in over five years

Romania’s National Bank (BNR) announced today, November 8, a reference exchange rate of RON 4.6198 per EUR, amid increased social tensions determined by the Government's new fiscal measures. This represents a growth of 0.5% from the previous day.

The Romanian leu has thus reached its lowest level against the European currency in the last five years and four months.

The increase came amid protests against the proposed amendments to the Fiscal Code, which the Government adopted on Wednesday. The measures, which include the controversial transfer of social contributions from the employer to the employee, have been highly criticized by the business environment, the workers’ unions, and the President.

Last week, President Klaus Iohannis criticized in harsh terms the fiscal measures recently proposed by the Government, saying that this so-called fiscal revolution would most likely turn into a “fiscal turmoil.” He also urged the ruling coalition “not to engage Romania in a fiscal economic adventure with a sad ending.”

Irina Marica, [email protected]

Normal

Romania Insider Free Newsletter

Get in Touch with Us