Worst Selloff for Romania’s Leu Since 2009 Tests Central Bank

The world’s longest-serving central bank governor is confronting Romania’s biggest market selloff since the global financial crisis after a surge in far-right support in a presidential ballot Sunday spurred a government collapse.

The leu, one of the most stable currencies in eastern Europe, remained under pressure after plummeting to an all-time low against the euro Tuesday. The dive signaled that the central bank retreated from a valuation it’s held for years in response to the market turmoil brought on by the first-round victory by an ultranationalist leader.