Investing.com -- Romania’s foreign exchange reserves decreased by €1 billion in May to €77 billion, the central bank reported Tuesday. The decline represents roughly half the drop recorded in April, when reserves fell by €2.2 billion.
The reserve figures include gold holdings. The central bank has permitted the leu to weaken during a period of political crisis rather than using additional interventions that would further drain reserves.
The leu has depreciated 3.2% against the euro since late April, marking the largest decline among emerging-market currencies during that period. On Tuesday, the leu traded around 5.25 to the euro, approaching a record low.
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