September 21, 2018

National currency affected by the Government’s ouster: Exchange rate at 4.4 lei per Euro

After the fall of the Ungureanu cabinet by no-confidence vote, the Euro was sold for 4.4 lei on the inter-banking market, a level close to the June 2010 quota when Romania took unprecedented austerity measures. On Friday the Euro grew to 4.38 lei immediately as the inter-banking market session began, amid expectations that the no-confidence vote would pass and the government would be replaced. In June 2010, the Euro cost 4.4010 lei on the inter-banking market. The negative sentiment at the time was based on the VAT increase from 19 to 24% and uncertainties about the IMF agreement after the Constitutional Court declared some austerity measures proposed by the government unconstitutional. At 4 pm on Friday, the exchange rate had dropped to 4.39 lei, possibly after a National Bank intervention. According to dealers, it was also because of National Bank interventions that the exchange rate was kept below 4.38 lei the previous day.

Source: Bucharest Herald (read more)

Not only does this give them better insight into the nature and teaching of history of essay writing mathematics, but it allows them to be more active in their own learning

Speak Your Mind


Click on the picture to try another code*

Click on the picture to try another code

Powered by: