The leu, pinched to roar at Băsescu - financiare.ro
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News » December, 2013 » 4 December 2013

The leu, pinched to roar at Băsescu
04.12.2013, 00:00 | Finance-Banks | 473 views



The EUR/RON exchange rate seems to have been used again as a political weapon in a confrontation between president Traian Băsescu and the government led by Victor Ponta, according to some opinions expressed under the protection of anonymousness and reported in the media. This time, the leu (Romanian for lion) seems to have switched sides to the Govenrment, after it seemed to be siding with the president in the summer of 2012.

Yesterday, the leu fell to a two month low, against the Euro. The official exchange rate announced by the National Bank of Romania (NBR) was 4.4684 lei/Euro, after president Băsescu announced on Monday night that the won't approve the memorandum of understanding signed with the IMF.

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