Romania’s currency, RON, depreciated for the fourth day in a row against the European single currency on Tuesday, the exchange rate slightly rising to 4.6587/EUR, the highest level since May 3, National Bank of Romania (BNR) data show.
On Monday, the reference exchange rate was RON 4.6586/EUR. US dollar lost 0.05 percent to 3.9497 RON.
Romania’s currency is expected to weaken by one percent versus the euro over the next year, according to a Reuters poll of 36 analysts.
The RON is considered more tightly managed by the central bank than its regional peers, which it has outperformed this year.
Analysts point out that inflation in Romania is the highest in the region and “mounting imbalances” in the budget and external positions could weigh on the RON.