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Is Romanian currency RON stable?

April 26, 2017currency Romanian Ron STABLE

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Is Romanian currency RON stable?

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Answer The Romanian national currency is the leu (plural: lei), subdivided into 100 bani (singular: ban). In July 2005 Romania underwent a currency redenomination by replacing the old leu (ROL) with the new leu (RON) at a rate of 10 000 ROL for 1 RON. The Romanian currency has known a strong appreciation against the euro and the US dollar after a period in 2004 when the exchange rate for one euro was more than 40,000 old lei. Several times in recent years the leu reached such high rates against the euro and the US dollar that the National Bank of Romania had to intervene. Currently (on 29 August 2007) one US dollar buys 2, 39 lei and one euro buys 3, 25 lei. For more updated exchange rates go here – http://www.curs-valutar.ro/insert-curs-valutar.