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Romania joined the European Union on 1 January 2007 and initially hoped to adopt the euro in 2014, [79] but with the deepening of the Euro crisis and with its own problems, such as a low workforce productivity, postponed its adoption plans indefinitely. [80] As of February 2021, 1 RON is worth about 0.2045 EUR and US$0.2483. [81]
The COVID-19 pandemic in Romania is part of the ongoing pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).
All throughout this period of time, the political crisis had severe results in the economy of the country, with the euro rising consistently above the leu, as reported by the National Bank of Romania (BNR) in the beginning of the autumn of 2021. [72]
According to the National Bank of Romania (BNR), the reference rate was almost 4.95 lei/euro on 22 September 2021, a record high at that time. [251] On 26 February 2020, when the first case of COVID-19 was detected in Romania, [252] the reference rate was 4.8074 lei/euro. [253] On 31 August 2021, it was 4.93 lei/euro. [254]