Euro Reaches All-time High Against Romanian Leu

The measures adopted by the Romanian Gouvernment this weekend regarding the increase of VAT from 19% to 24% had a very powerful effect on the financial market, as this announcement increased concerns about inflationary pressures. In this conditions, central bank’s reference hit an all-time high at 4.3257 RON per euro. The leu's indicative lost over 1% to the euro since Friday, when it was set at 4.2808 units.

 

Against the US dollar, the leu's reference rate weakened 0.2% to 3.4996 units.