EUR could reach RON 4.7 in 2018, BCR chief economist says

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The RON/EUR exchange rate will reach the level of RON 4.7 in 2018, while the forecast for this year is RON 4.62 for EUR 1, according to an analysis by the BCR chief economist.

After the first eight months of this year, the RON registered 1.09% depreciation against the EUR as compared to the level at the end of 2016, the exchange rate reaching at the end of August to over RON 4.59/EUR. During September, the RON/EUR exchange rate has strengthened above the RON 4.59/EUR threshold. The highest level of the local exchange rate, of over RON 4.64/EUR, was registered in 2012.

“No significant nominal and real appreciation seems likely, given the current market expectations and the ongoing deterioration of the account deficit. The most plausible scenario seems to be the RON weakening below the inflation rate, by 1-2% in nominal terms,” Horia Braun said, according to ‘Ziarul Financiar’.

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