Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Foreign banks expect an exchange rate of RON 4.9 to EUR at end of 2020

The foreign banks polled by Bloomberg expressed expectations for an exchange rate of some RON 4.9 to EUR at the end of the year, not much different from the latest forecast of the Romanian CFA Society.

The foreign banks, including JPMorgan, Mitsubishi Financial, Erste, Commerzbank, and BNP Paribas, expect, on average, an exchange rate of RON 4.88 to EUR in the fourth quarter of the year (Q4).

The exchange rate will rise above RON 4.9 only in Q1 next year, according to their projections, quoted by Profit.ro.

Among the banks polled by Bloomberg there is, however, a German state bank, Landesbank Baden-Württemberg, with the highest estimates for the Romanian currency’s depreciation.

Thus, the German bank anticipates an exchange rate of RON 5.2 to EUR in Q4, RON 5.25 in Q1, and RON 5.3 in Q2.

BNP Paribas also sees the Romanian currency slipping above RON 5 to EUR.

The Romanian CFA analysts indicated in July average expectations for an exchange rate of RON 4.90 to EUR within 6 months and RON 4.96 to EUR within 12 months. They also expressed average expectations for 2.7% CPI inflation over the coming 12-month forecast period.

(Photo: Henning Marquardt/ Dreamstime)

[email protected]

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Foreign banks expect an exchange rate of RON 4.9 to EUR at end of 2020

The foreign banks polled by Bloomberg expressed expectations for an exchange rate of some RON 4.9 to EUR at the end of the year, not much different from the latest forecast of the Romanian CFA Society.

The foreign banks, including JPMorgan, Mitsubishi Financial, Erste, Commerzbank, and BNP Paribas, expect, on average, an exchange rate of RON 4.88 to EUR in the fourth quarter of the year (Q4).

The exchange rate will rise above RON 4.9 only in Q1 next year, according to their projections, quoted by Profit.ro.

Among the banks polled by Bloomberg there is, however, a German state bank, Landesbank Baden-Württemberg, with the highest estimates for the Romanian currency’s depreciation.

Thus, the German bank anticipates an exchange rate of RON 5.2 to EUR in Q4, RON 5.25 in Q1, and RON 5.3 in Q2.

BNP Paribas also sees the Romanian currency slipping above RON 5 to EUR.

The Romanian CFA analysts indicated in July average expectations for an exchange rate of RON 4.90 to EUR within 6 months and RON 4.96 to EUR within 12 months. They also expressed average expectations for 2.7% CPI inflation over the coming 12-month forecast period.

(Photo: Henning Marquardt/ Dreamstime)

[email protected]

Normal
 

Romania Insider Free Newsletters