Against the US dollar, the leu’s exchange rate lost 1.05% to 4.536 units on May 8.
The national currency also slumped against the Swiss franc, trading at 5.4930 units and weakening by 0.85% compared to the previous day.
The Romanian leu continued the declining trend over the past days, amid lingering political tension locally following the first round of presidential election held on May 4.
On Tuesday (May 6), the Romanian leu surpassed the threshold of 5 units against the euro for the first time ever. Over the last two years, the EUR/RON exchange rate has stayed put, being stable at 4.97 to the euro.
Romania’s central bank has managed to keep the EUR/RON exchange rate stable, despite all crises over the last years – the Covid-19 pandemic, Russia’s war in Ukraine, ballooning inflation – considering that Romania has benefited from massive inflows of EU money and billions of euros from foreign portfolio investors which bought Romanian government bonds at interest rates higher than the rates set for European and U.S. government bonds.