Romania's currency depreciated by 1.78% to 3.9410 Ron for 1 euro

Luni, 6 octombrie 2008, 19:20 English | Business

Romania's National Bank established a reference exchange rate of 3.9410 Romanian Ron for 1 euro, a far higher level than the one established last week. The national currency depreciated by 1.78% after on Friday the central bank published a rate of 3.8720 Romanian Ron for 1 euro. 

The exchange rate announced on Monday is the highest in the last 45 months. A similar high value was previously announced on December 31, 2004 when 1 euro was rated at 3.9663 Romanian Ron. As compared to the American dollar, the national currency depreciated to 2.9054 Romanian Ron as compared to 2.7912 Romanian Ron last Friday.