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Romanian leu hits all-time low vs euro

Romanian leu hits all-time low vs euro Romanian leu down

BUCHAREST (Romania), September 7 (SeeNews) - The Romanian leu weakened to an all-time record level against the euro on Tuesday amid growing political uncertainty, central bank data showed.

The central bank, BNR, set its reference exchange rate at 4.9488 lei per euro on Tuesday, a drop of 0.03% compared to Monday's value.

On Tuesday morning, the leu changed hands at between 4.9450 and 4.9485 per euro on the interbank market, according to real-time interbank forex trading data published by information portal Conso.ro.

Later in the day the ministers of the centre-right bloc formed by Save Romania Union (USR) and PLUS parties, a junior partner in the governing coalition, resigned. The bloc holds five portfolios - health, EU funds, transport, economy, and research; innovation and digitalisation - in the liberal cabinet led by Florin Citu

Citu now has 45 days to propose new members of the government and ask for a vote of confidence in parliament, according to the Constitution.

Last week, USR PLUS announced that it is withdrawing support for Citu after he dismissed Stelian Ion, the justice minister nominated by USR PLUS, for refusing to back an emergency decree on a 50 billion lei financing scheme for development of rural areas.

CFA Romania, an association of investment professionals, said in August that they expect an exchange rate of 4.9829 lei per euro in the next six months and 5.0455 lei per euro in the next 12 months.

(1 euro=4.9156 lei)

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