Romanian currency to keep losing ground in first half of 2009

Marţi, 30 decembrie 2008, 16:42 English | Business

The Romanian currency, RON, will keep depreciating against Euro, reaching an average exchange rate throughout the year between 3.68 and 4.07 RON per Euro, analysis interviewed by Mediafax say.

Raiffeisen Bank Romania chief economist Ionut Dumitru considers that the RON was within the normal volatility limits this year and that pressure for depreciation will continue as long as "the sentiment towards the national currency does not improve". Dumitru expects an exchange rate between 3.75 and 4.2 RON per Euro.

Radu Craciun, investments manager at Interamerican, also anticipates a 4 RON per Euro average rate, while Vlad Muscalu, an economist with ING, believes that the average will  be 4.07.