A week before local elections to be held on September 27 in Romania, the national currency, RON, reaches a new historical low. One Euro, the European currency, equals 4.8595 RON, an all-time low.
In July, the estimations made by financial analysts indicated that Romanian RON would reach a parity of close to 5 RON for an Euro. More precisely, the estimations presented a scenario of 4.96 RON for Euro.
The context which contributed to this most-feared scenario are the coronavirus crisis, the budgetary deficit and the pension hike to be voted in the Parliament in the near future. Also, the local elections to be held in Romania on September 27 and the political instability might have brought their own contribution to this new historical low Romania witnesses for the national currency.