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Euro at all time high against RON

The local currency RON, witnessed a new devaluation today (Mon), 2.23 bani higher than at the last forex trading session on Friday, reaching 4.3970 RON/1 Euro, the central bank informed.

Despite the efforts of the National bank to stop the devaluation of the RON, the Euro reached a new all time record.

The representatives of the central bank tried to put down the rumours about a possible speculative attack on the national currency.

"There is no reason for panicí, Adrian Vasilescu the councilor of the central bank governor said. The government fell, it is normal to see the effects on the market as well", he said.

"Thereís no speculative attack. In a country such as Romania, the fall of the government will always affect the exchange rate. All in all, the latest devaluations total some 0.5 percent of the RONís value, which is not much. The central bank continues to be present on the forex market", a dealer told Gandul newspaper.

ING Bank economist Vlad Muscalu says, in his view, the market will stay tensioned for a while, at least until the new cabinet presents its economic vision.

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