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Bucharest
February 4, 2023
BUSINESS

RON still wavering, appreciated slightly yesterday, to 4.2217/euro

The RON/euro exchange rate was slightly down over the last week (0.45 per cent), despite rather favourable news from Greece, stimulating the appetite for higher-risk currencies, explained Victor Safta, director X-Trade Brokers, in a press release. During the said interval, Euro gained 2.5  per cent against the USD, and also appreciated 4.24 per cent against the Swiss Franc (SF), moving away from record lows. “Markets appear to shy away from the RON for now, on grounds of the rather bad economic news, but also related to the Romanian and the Greek banking system: Safta also said. The RON consolidating itself upwards of the 4.2 ceiling appears fragile nonetheless. “Temporarily alleviated fears over Greece might however open the way to short term appreciations,” the X-Trade Brokers official also said.

The RON appreciated in the first part of yesterday’s trading session amid a quiet market, with the National Bank of Romania (BNR) issuing an RON/euro rate of 4.2217/1, RON 0.0202 below Friday’s rate of RON 4.2419/euro. The RON also strengthened against the SF, with the BNR rate of RON 3.4246/SF, down RON 0.0315, the lowest in the past three weeks.

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