Romanian leu hits historic low as euro reaches 5.34 lei

Romanian leu Euro exchange rate National Bank of Romania foreign exchange reserves currency volatility

The Romanian leu experienced a sharp depreciation against the euro, with the National Bank of Romania (BNR) setting an official exchange rate of 5.3447 lei per euro on October 2. This represents a historic high for the euro in Romania, following a significant jump on the interbank market where the rate briefly touched 5.3459 lei.

This currency volatility occurs amid political uncertainty and a notable decline in Romania's foreign exchange reserves, which fell to 60.06 billion euros at the end of September from 64.865 billion euros in August. A primary driver for the reserve reduction was approximately 2.7 billion euros used for external debt payments in a single month.

BNR spokesperson Dan Suciu stated that the central bank is attempting to find a balance between managing exchange rate volatility and maintaining interest rate stability. Meanwhile, the Ministry of Finance announced an increase in maximum yields for the new Fidelis tranche to 7.75% for leu issuances and 6.6% for euro issuances. Analysts note that the high inflation differential between Romania and the Eurozone may contribute to continued pressure on the leu, while markets await a sovereign rating evaluation from S&P.

Entities

Adrian Codirlașu · Dan Suciu · Ministry of Finance · National Bank of Romania · Romania · S&P Global Ratings

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] The currency market is relatively thin with low transaction volumes, which amplifies price movements.
[○ 1 SOURCE] The Ministry of Finance is increasing maximum yields for the new Fidelis tranche to 7.75% for leu issuances and 6.6% for euro issuances. newmoney.ro
[DISPUTED] The euro reached a record high of 5.3459 lei against the Romanian leu on the interbank market. reper24.ro · epitesti.ro · newmoney.ro · www.stiripesurse.ro
[● 2 SOURCES] Approximately 2.7 billion euros were used for external debt payments in a single month. newmoney.ro · spotmedia.ro
[● 3 SOURCES] The National Bank of Romania (BNR) is seeking to balance exchange rate volatility with interest rate stability. epitesti.ro · newmoney.ro · www.ebihoreanul.ro
[● 5 SOURCES] Romania's foreign exchange reserves fell to 60.06 billion euros as of September 30, down from 64.865 billion euros at the end of August. epitesti.ro · newmoney.ro · www.ebihoreanul.ro · spotmedia.ro · www.stiripesurse.ro
[○ 1 SOURCE] The Ministry of Finance will increase maximum yields for the new Fidelis tranche to 7.75% for leu issuances and 6.6% for euro issuances. newmoney.ro
[● 6 SOURCES] The BNR official rate for the euro on October 2 was 5.3447 lei. www.ebihoreanul.ro · economedia.ro · vremeanoua.ro · www.wowbiz.ro · spotmedia.ro · +1 more
[● 4 SOURCES] The euro rose by approximately 1.27% in a single day against the leu. www.ebihoreanul.ro · economedia.ro · www.wowbiz.ro · www.stiripesurse.ro
[○ 1 SOURCE] The high inflation differential between Romania and the Eurozone could lead to a slight depreciation of the leu in the medium and long term. economedia.ro