Romanian central bank lets leu weaken to record lows
Updated
Updated · Bloomberg · May 6
Romanian central bank lets leu weaken to record lows
13 articles · Updated · Bloomberg · May 6
The leu fell 0.8% against the euro on Tuesday after lawmakers toppled Prime Minister Ilie Bolojan's administration amid coalition clashes over austerity measures.
The drop was among the biggest moves in emerging-market currencies, testing Romania's managed-float regime as political instability deepened.
A year earlier, the central bank also allowed the leu to fall during turmoil linked to a presidential election, underscoring recurring pressure from domestic politics.
As political infighting tanks the currency, what does this crisis mean for the average Romanian's wallet?
With its government in chaos, can Romania secure billions in EU funds before the deadline expires?