Romania's National Currency Hits Hard After Bolojan Cabinet Vote

Romania's national currency has seen significant depreciation in recent days, according to Member of the European Parliament Siegfried Mureșan. The euro rose on Friday, October 2, to around 5.34 lei on the interbank market, from approximately 5.27-5.28 lei the previous day. This increase is attributed to political uncertainty in Romania and anticipation of a new S&P assessment of the country's sovereign rating.

Mureșan accused the PSD (Social Democratic Party) and AUR (Alliance for the Union of Romanians) of contributing to the leu's depreciation through their actions. He claims that the national currency has depreciated by more than 5% since the initiation of the no-confidence motion against the government led by Ilie Bolojan.

The politician stated that the leu depreciated massively at two moments: after the no-confidence motion supported by the PSD and AUR against the Bolojan Cabinet and after the rejection, this week, of the pro-European government he proposed. According to Mureșan, the PSD generates costs both in government, through the budget deficit, and in opposition, through economic uncertainty.