On the interbank market on Wednesday, the national currency hovered around RON5.268-RON5.27 versus the euro.
On Tuesday (May 5), the leu breached a new psychological threshold of 5.2325 units to the euro on the interbank market, surpassing the central bank’s official reference rate of RON5.2180/EUR, a new record low against Monday’s level of RON5.1998 per euro.
Until the onset of political crisis in the second half of April 2026, the leu had stagnated at 5.09 units to the euro since the beginning of 2026.
It last touched a record low of RON5.12 versus the euro on May 5, 2025, the second day after the first round of Romania’s presidential election when then-prime minister Marcel Ciolacu announced his resignation.
The national currency continued to lose ground versus the US dollar too, on May 6, trading at RON4.474/USD, from RON4.464/USD on May 5.
On May 6 too, the three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, as well as for companies’ leu-denominated loans, stagnated at 5.86% per year, and the six-month ROBOR, used to calculate variable interest rates for mortgage loans in lei, at 5.94%.
Tuesday afternoon, Romanian lawmakers ousted the pro-European government of Prime Minister Ilie Bolojan in a no-confidence vote, putting at risk the country’s sovereign debt ratings, its access to EU funds and the stability of its currency. The no-confidence motion garnered 281 votes, above the 233 needed to pass, the official parliamentary count showed.
Bolojan has led a minority government since late April 2026 when the Social Democrats – the largest party in parliament – called for his resignation and then walked out of the four-party pro-European coalition and teamed up with the far-right opposition to file a no-confidence vote. Bolojan is the seventh prime minister to be toppled by a no-confidence vote since the restoration of democratic rule following the 1989 Romanian Revolution.
The current coalition came to power 10 months ago with a view to containing the gains of the far right after a series of polarising elections, and it has begun to reduce the deficit, narrowly avoiding a ratings downgrade from the last rung of investment grade. But the Social Democrats have repeatedly clashed with Bolojan as his austerity measures have hit their voters and patronage networks, while their popular support has bled away to the far right.
Centrist President Nicusor Dan, who nominates the prime minister, is expected to call parties in for negotiations and attempt to rebuild the four-party pro-EU coalition under a different member of the Liberals or perhaps a technocrat as prime minister. The Social Democrats have frequently said they would re-join a pro-EU coalition under a different premier. Bolojan’s party has so far ruled out collaborating with the Social Democrats again, however, but some senior party members have pushed for reconciliation.