Romania's currency the RON reached a new low today ( March 19 ), when the rate against the EUR stood at 4.3794, a further slip from last Friday ( March 16 ), when the rate was of 4.3783 RON for a EUR. According to market traders, Romania's Central Bank has sold foreign currency on the market to help appreciate the RON.

This year, the RON lost about 1.5 percent against the euro, making it harder for people who have to repay loans in euros, as well as for those who pay rent euros. The RON's depreciation also hits returns of foreign portfolio investments in Romania, but helps Romanian exporters.

From an exchange rate of RON 4.07 to the euro at the end of April last year, the rate reached a peak of RON 4.36 against the euro in November. The Romanian currency followed a similar evolution path as in 2010, when it went from a rate of RON 4.07 to the euro in March to a peak of RON 4.37 in June 2010.

The Romanian lei was a stronger currency in 2008, when the average rate was RON 3.68 per euro, but international turbulence sent it plummeting to an exchange rate of RON 4.23 against the euro in 2009. Last year, the average rate was RON 4.20/EUR 1.

editor@romania-insider.com