The Romanian currency slipped to a new low on Wednesday, when the Romanian Central Bank announced a rate of RON 4.4587 for the euro, higher than on Tuesday. According to media reports, the Central Bank indirectly sold large amounts of euros to cool down the rate.

May was a month of records for the rate, with the Romanian currency having depreciated by 1.4 percent during the month alone, on political instability because of the Government change. The RON is down by 3.2 percent compared to the beginning of the year, from a rate of RON 4.3197 at the end of December 2011.

On the money market, the highest rate at which the EUR was sold was RON 4.4640, which was still below the money market record of RON 4.4675 on May 1, a non-banking day in Romania.

editor@romania-insider.com