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Euro gets to a new historic maximum: the exchange rate presented by BNR: 4.855 Lei/euro
The leu depreciated on Monday by 0.60 bani against the euro (0.12%) the European
currency getting to a new historic maximum, and the calculated exchanged rate by the BNR is 4.8552 lei/euro.BNR quoted euro at 4.8492 lei on Friday. On the interbanking market, the national currency traded between 4.8507 and 4.8582 lei
for one euro. Similarly, the leu lost ground against the American dollar which got to 4.1033 lei, in BNR going up by 1.18 bani (0.29%) against the exchange rate for Friday, 4.0915 lei/dollarrespectively.
The national currency appreciated against the Swiss Franc by 0.41 bani (0.09%). Thus, the quotation for the Franc got to 4.4899 lei, as compared to 4.4940 lei/Franc on Friday. Gold got cheaper by 79.8 bani (-0.3%) down to 254.3871 lei from 255.1851 lei as it had been established at the previous meeting.
The leu gets in an area of equilibrium in the new context, without any movements, stated the spokesperson of the BNR Dan Suciu. He thinks that if there are any slippage as regards the public policies which could lead to supplementary expenses which couldn’t be managed by unsustainable increase of pensions or salaries, the leu would find its relative rapid balance.
‘The leu is in an area of balance in the new context, without big changes. Today we had a depreciation of 0.1% and at the beginning of the year somewhere about 1.6% which, even it is feels counter-intuive as we are having a historic maximum, shows a relatively stable evolution, especially in the complicated situation from an economic point of view, where the Forint depreciated by 8.8% and the Polish Zlot by 4.5% to understand what happens in the region. If there are no slippage in the public politicies which would lead to supplementary expenses not to be managed through unsustainable increases for pensions or salaries, the leu will find a balance relatively quick. If these pressures connected to expenses continue, the risk increases with them’ Suciu said.
The dropping trend and for the moment relatively slow for the leu has, unfortunately chances to continue, stated Claudiu Cazacu, consulting strategist with XTB Romania, mentioning that the following months could bring us even levels over 4.9 lei for one euro.‘eur/ron comes back to the attention of the markets after a ‘ slowing down’prolonged over summer, in a regional character.
‘Unfavourable fluctuations were registed at the beginning of the month by the Polish Zlot and the Forint and even the Czech Chrone in a relatively better position. For the leu, the dropping trend and for the moment relatively slow are,unfortunately, chances for continuation. Pressure comes from macro factors at global scale or European scale, including the economic effect of the pandemics, as well as the fiscal-budgetary position of Romania. The fact that elections are coming soon may play a role, although, for the moment, this is not the factor.Tensions go to an adjustment through the exchange rate, a? long as the interests are under the low levels, and the next months could bring even levels over 4.9 (lei)for one euro. We are in a process of developments, but for the moment, the estimate for a 4.96 (lei) for the end of the year is still valid. We keep the level of uncertainty if high and very much depend on the quick solution or slow solution of pandemics’, Claudiu Cazacu said.