The US dollar is one of the most widely traded currencies in the world and it is accepted by countries around the globe. The Romanian leu (RON) is the currency of Romania, which has been part of the European Union since 2007.
The USD-RON currency pair is heavily influenced by many factors such as economic performance, geopolitical events, and even central bank decisions. For example, if Romania's economy is growing faster than that of the United States, the value of the RON may increase relative to the USD. On the other hand, if there is a conflict or economic issue in Romania, it could impact its currency and lead to decreased demand for RON.
The exchange rate between the US Dollar (USD) and the Romanian Leu (RON) has fluctuated significantly over the past decade. On 11th July 2008, the lowest exchange rate of 2.04 was recorded, whereas, on 14th October 2022, it reached its peak with a rate of 4.93. As economic stability in Romania has improved over the years, so has the RON exchange rate against the USD. This trend is expected to continue in the foreseeable future, making it a possible attractive currency for investors looking for higher returns.
Trading USD to RON is an attractive option for traders due to the large number of Romanian companies that have international operations. This means that they can take advantage of the favourable exchange rate fluctuations and benefit from any gains. Additionally, Romania has a highly liquid currency market, which makes it easy for traders to make quick trades and capitalize on price movements.
Apart from trading USD to RON, traders should also consider other currencies that are actively traded in the Romanian market such as the Euro (EUR), British Pound (GBP), Swiss Franc (CHF) and Polish Zloty (PLN). These currencies have relatively high liquidity and offer investors good opportunities for both long-term and short-term investments. As well, they provide traders with the chance to take advantage of both directional movements and range-bound markets.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.