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March 29, 2023
BUSINESS

Morgan Stanley bets on RON recovery

Morgan Stanley recommends supporting the RON on the foreign exchange markets in relation with the Hungarian Forint, at least in the next three months, betting on the improvement of the economic performances of Romania and the recovery of the national currency, which must catch up with the regional competitors.


The American investment bank notes that the economy of Romania will have better performances than the Hungarian one in the next years, while the cycle of relaxation of the key interest rate will have a lower impact on the local currency because the players from the market are aware of the interventions of the National Bank, Reuters transmits. Moreover, the bank stresses that the RON has recovered with more difficulty than other currencies from the region after the depreciations during the crisis, because it was affected last year by a political crisis of several months.


The reference rate published on Tuesday by the National Bank of Romania increased slightly, by 0.89 bani, or 0.22 per cent, to RON 4.1097/EUR, after the rate announced on Monday by the central bank reached the lowest level of the last 12 months, the EUR being rated at RON 4.1008. The RON depreciated on Tuesday also in relation with the US dollar, the reference rate advancing by 1.74 bani, to RON 2.8687/USD. In the meeting of Monday the dollar was rated at RON 2.8513.

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