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Romanian Leu Hits Record High on New Prime Minister

December 23, 2009 at 21:54 by Jan Baros

Romanian LeuThe Romanian leu touched the highest level in three months versus the euro after the country’s parliament chose its new prime minister, lifting speculations that a political crisis could influence the country’s economy negatively.

After the Romanian Parliament approved a new government led by prime minister Emil Boc, speculations that loan approvals necessary for stabilizing the Eastern European economy would not be approved disappeared, helping the leu to advance versus the dollar and the euro as concerns that the country could suffer a credit downgrade cooled down.

EUR/RON closed today at 4.1982 from an opening rate of 4.2173.

If you have any questions, comments, or opinions regarding the Romanian Leu, feel free to post them using the commentary form below.

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