Prime Minister Emil Boc on Monday announced he is stepping down, after weeks of political turmoil and social unrest. “I have resigned because I do not wish to cling to power. It’s not important to me that I remain in office for a few more months, until elections in November,” Boc said.
The leu had opened at 4.33 against the euro, but at around 11:30 local time (GMT0930) it was trading at 4.3420/4.344 against the European coin.
The shift in evolution for the leu was felt stronger after Boc’s announcement, but there was also some influence from other currencies in the region, which were seeing a similar trend.
The stock market opened undecided Monday, but it soon entered a sharp downward trend after Boc’s announcement.
At around 12:05 hours, all indexes of the Bucharest market were down more than 2%, with all major issuers in negative territory.