Romanian currency maintains momentum, hits fresh 4-month high

Sorin Melenciuc 10/06/2019 | 13:10

The Romanian currency reached on Monday a 4.5-month high level against the European single currency on bond inflows from international investors.

The central bank reference exchange rate declined on Monday to 4.7182/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 forecast that the RON could continue to appreciate.

“The impressive inflows into local currency seemed to continue on Friday, closing a remarkable week for the Romanian leu. (…) Should the inflows continue, we see strong support for the pair around 4.7050, though we tend to see it stabilising at current levels in the short term,” ING Bank analysts said in a research note.

US dollar lost 0.3 percent to RON 4.1747.

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

Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue