The Romanian leu gained versus the euro today after the International Monetary Fund affirmed it will release the currently stopped bail out program for the eastern European country, allowing the leu to beat several currencies in the region.
Romanian Leu RON
The Romanian leu is the official currency of Romania. The new leu replaced the old one after a currency reform in 2005. The euro is expected to replace the leu in 2015.
Romanian Leu News Archive
The Romanian leu rallied today versus the euro and the U.S. dollar as interest rates were unexpectedly cut in the country after a political crisis that delayed an IMF bailout finally ended, adding confidence that stability in the parliament will lead the nation towards a faster recovery.
The 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.