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On 1 July 2005, Romania underwent a currency reform, switching from the previous leu (ROL) to a new leu (RON). 1 RON is equal to 10,000 ROL. 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 ...
The fifty euro note (€50) is one of the middle value euro banknotes and has been used since the introduction of the euro (in its cash form) in 2002. [6] The note is used in the 25 countries (and Kosovo ) that have it as their sole currency (with 24 legally adopting it), which countries have a total population of about 350 million currently. [ 7 ]
The Romanian target for "real convergence" ahead of euro adoption, is for its GDP per capita (in purchasing power standards) to be above 60% of the same average figure for the entire European Union, and according to the latest outlook, this relative figure was now forecast to reach 65% in 2018 and 71% in 2020, [8] after having risen at the same ...
The full design of the Europa series 50 euro note was revealed on 5 July 2016 [97] and the new 50 note was released on 4 April 2017. [ 98 ] [ 99 ] The full design of the Europa series 100 euro banknote and 200 euro banknote was revealed on 17 September 2018 and the new notes entered circulation on 28 May 2019 [ 100 ] therefore "will complete ...
Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP, inflation, unemployment or the fiscal deficit—or at a more disaggregated level, for specific sectors of the economy or even specific firms.
For instance, the quotation EURUSD (EUR/USD) 1.5465 is the price of the Euro expressed in US dollars, meaning 1 euro = 1.5465 dollars. The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF).
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.