Analysts expect RON to drop over the coming months

The euro exchange rate has stabilised at around 3.6 RON, but analysts believe the RON is more likely to depreciate within the next few months, rather than recover the ground lost in autumn. The rates stabilised at levels close to 3.6 RON per euro as early as last Friday, when dealers suspected that the NBR (National Bank of Romania) had intervened, which halted, at least temporarily, the rapid appreciation of the RON. “I am expecting the euro to drop below the current level by the end of the year, given that the second half of December traditionally sees significant amounts of foreign currency exchanged from workers coming from abroad, as well as from companies that need RON to make various types of payments,” says Lucian Anghel (photo), chief-economist at BCR. However, the market will remain volatile during the coming period, whilst the RON could potentially lose ground to the euro in the short run, because of the international economic climate, before it appreciates again at the end of the year. The euro fluctuated between 3.585 and 3.6050 RON yesterday in Bucharest, during a rather hectic trading session. The NBR calculated an exchange rate of 3.5865 RON per euro, down 0.56 bani (100 bani equal 1 RON) against the previous day. The dollar lost 0.11 bani at the official exchange rate, and fell to 2.4147 RON, after it registered a slight depreciation against the euro on the international markets.