US EditionRomanian currency hits historic low amid political turmoil
- Romania's national currency hit a record low of 5.1222 lei per euro on Tuesday after the first round of presidential elections.
- The currency drop followed the far-right candidate winning the election round and the resignation of Social Democrat Marcel Ciolacu's government.
- The National Bank of Romania intervened to halt the decline by raising interest rates, causing the three-month ROBOR index to rise to 7.25%.
- In recent days, the central bank has injected over 7 billion euros to support the currency, while polls indicate Simion commands 38.9% voter backing; meanwhile, the budget deficit is projected to reach 8.65% of GDP in 2024.
- Interim Minister Marcel Boloș said no IMF talks are ongoing, noting IMF reforms are harsher than Romania’s current recovery plan, amid concerns about political instability.
13 Articles
13 Articles
Leul, devalued by 3%. Suciu (BNR): The profits will not exceed 7.5%. Both of the reforms in PNRR are very worrying
In the context of political and economic instability, BNR’s spokesman, Dan Suciu, said on Friday, 24th, that BNR was trying to achieve “a balance both for the course and for the benefit”. He explained that ROBOR’s profit could not increase more than 7.5%. This explains the disturbances in the interbank market as a result of “a set of elements, from the long-term electoral period, to the non-existence of elections and the uncertainty related to t…
The lion was easy after three days of landing, but it will probably have the worst week after 2009 - HotNews.ro
The National Bank of Romania presented a race of 5.1165 lei for a euro, falling by 0.0057 lei (0.11%) in front of the joi when it was 5.1222 lei. So, after three consecutive days of...
TLDR News EU — Why the Romanian Leu is Crashing
For most of the past few years, the Romanian leu has held remarkably well against the Euro. That is, up until earlier this week, when the currency crashed, forcing the Romanian central bank to intervene. In this video, we're taking a look at why the leu crashed, whether it can recover, and what this means for the presidential election frontrunner. 📰 Too Long: https://toolong.news/ 💡 Got a Topic Suggestion? - https://forms.gle/mahEFmsW1yGTNEYXA…
The Romanian far-right presidential candidate would make Viktor Orbán's position known.
Romania has already paid the price for the fact that voters once again elected a far-right candidate as the winner in the repeated first round of the presidential election. The leu exchange rate began to fall last week, and on Wednesday it crossed the psychological threshold of five euros. According to Krónika Online, rescuing the exchange rate cost the Romanian National Bank 2 billion euros on Monday alone. The stock market also began to plumme…
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