19.7 C
September 26, 2020

RON gains ground in front of Euro

The RON could strengthen up to a rate of 4.10 this month, the dealers say, value which has not been reached since January 2009, Realitatea.net informs. Such a low rate for the European currency has not been reached since May 5, 2009. The Euro currency lost 4 bani against the exchange rate from two days ago, a situation anticipated by the evolution of the RON on the interbank market at the beginning of the day, when one Euro was traded for RON 4.15. The bankers do not rule out the possible extension of the period when we have a strong RON until the first half of February.

On another hand, the National Bank of Romania lowered on Tuesday the monetary policy interest rate by 0.50 percentage points, to 7.5 per cent, the lowest level since January 2008, while most of the economists expected the monetary policy interest rate to remain unchanged, reads the German daily Frankfurther Allgemeine Zeitung. Neil Shearing, economist with Capital Economics, expects BNR to lower the key interest rate to 6 per cent until the end of 2010, while Martin Stelzeneder, analyst with Raiffeisen Research, shows a cautious optimism about the Romanian RON. From the point of view of analysts, the new year has a better start for the Romanian RON than in 2009. The experts from Unicredit have the same opinion, because they do not believe that the reduction of the interest rate will prevent an appreciation of the RON, given that the peak of the interest rate is still high (in America, the key interest rate is 0.25 per cent, while in Europe 1 pr cent). At the end of 2010 an exchange rate of the RON of 4.10 against the Euro is also considered.

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