Romanian currency hits fresh 4-month high, exchange rate falls below 4.72

The Romanian currency reached on Thursday a fresh 4-month high level against the European single currency on bond inflows from international investors.

The central bank reference exchange rate declined on Thursday to 4.7183/EUR, the lowest EUR/RON exchange rate since January 22, National Bank of Romania (BNR) data show.

The EUR/RON pair reached an all-time high of 4.7648/EUR on January 25.

Analysts see 4.72 as a support level.

“The EUR/RON moved lower, testing 4.7200 and closing around this level, on large turnover, though lower than the previous couple of days. The 4.7200 level should act as support, providing there is no significant surprise from the European Central Bank today,” ING Bank analysts said in a research note.

US dollar gained 0.1 percent to RON 4.1995.

Romania’s three-month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, stood on Thursday at 3.24 percent.