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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s currency reaches new record low versus the euro

Romania's currency weakened to new lows against the euro on September 23, after the Parliament endorsed the 40% pension hike that risks undermining the already fragile public sector budget.

The depreciation was rather small, only 0.1% - but enough to push the exchange rate over the RON 4.86 to EUR benchmark to a new all-time low value of the currency versus the single European currency, Agerpres reported.

According to Romania's National Bank (BNR), the European currency was quoted at RON 4.8641, compared to the previous high of RON 4.8595 on September 17.

This is the third all-time high for the European currency in September.

The US dollar was quoted at RON 4.1528, the Swiss franc at RON 4.5153, and the GBP at RON 5.2908.

Under the latest CFA Romania poll, the Romanian financial analysts projected that the euro would reach RON 5 by the end of March 2021 and that the downward trend of the Romanian currency against the euro will continue afterward.

(Photo: Henning Macquardt/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s currency reaches new record low versus the euro

Romania's currency weakened to new lows against the euro on September 23, after the Parliament endorsed the 40% pension hike that risks undermining the already fragile public sector budget.

The depreciation was rather small, only 0.1% - but enough to push the exchange rate over the RON 4.86 to EUR benchmark to a new all-time low value of the currency versus the single European currency, Agerpres reported.

According to Romania's National Bank (BNR), the European currency was quoted at RON 4.8641, compared to the previous high of RON 4.8595 on September 17.

This is the third all-time high for the European currency in September.

The US dollar was quoted at RON 4.1528, the Swiss franc at RON 4.5153, and the GBP at RON 5.2908.

Under the latest CFA Romania poll, the Romanian financial analysts projected that the euro would reach RON 5 by the end of March 2021 and that the downward trend of the Romanian currency against the euro will continue afterward.

(Photo: Henning Macquardt/ Dreamstime)

[email protected]

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