Swiss franc hits new high against the RON

Newsroom 19/01/2015 | 17:20

The Swiss franc (CHF) gained another 1.1 percent against the Romanian leu (RON) on Monday, reaching RON 4.4716/CHF, according to the official exchange rate announced by Romania’s central bank. This is a new all-time record for the exchange rate between the two currencies.

The currency spike comes after on January 15 the Swiss bank abandoned its currency cap against the euro. The following day the CHF was up by a 15.7 percent against the RON and reached RON 4.3287/CHF.

It is estimated that around 75,000 Romanians have to repay loans in Swiss francs. Most of these are mortgage loans taken out before the crisis. The average monthly installment for such a credit is approximately CHF 500 – CHF 600 which means debtors have to pay by about RON 300 – RON 500 more each month.