Romanian national currency leu keeps falling: 3.7619 lei for 1 euro

Marţi, 22 ianuarie 2008, 22:51 English | Business

Romania's national currency leu further depreciated on Tuesday reaching the three-year record level of 3.7619 for 1 euro, as all countries in the region are affected by the fall of the international stock markets, Romanian news agency NewsIn informs. Last time when the depreciation reached these numbers was in 2005 when the reference rate was 3.8026 Romanian leu for 1 euro.

On Monday, the reference rate announced by Romania's National Bank was 3.7202 Romanian Ron for 1 euro. However, on Tuesday the rate quickly rose at 3.74 Romanian Ron/euro, reaching even 3.7909 for a couple of hours.

Credit Europe Bank analyst Georgiana Constantinescu declared, quoted by NewsIn that the national currency seemed to be more stable in the afternoon than in the morning when there was a general panic that European banks might be affected at their turn by the US crisis.