Analysts see Romanian currency going down in the next 12 months

The local CFA analysts are more pessimistic about the evolution of Romania’s macroeconomic indicators, especially the EUR/RON exchange rate and interest rates. This month’s CFA survey shows worse forecasts than the one in June. The CFA analysts expect the EUR/RON exchange rate to go up to RON 4.7210 per EUR in the next six months and RON 4.7929 per EUR in the next 12 months. The official exchange rate announced by Romania’s National Bank (BNR) on Tuesday, July 24, was RON 4.6367 per EUR, the lowest level in almost two months. The analysts also expect the annual inflation rate to remain high, with an estimated level of 4.85% over 12 months. Wall-street.ro reported. The interest rates are also expected to go up, with an estimated level for the 3-month interbank lending rate (ROBOR 3M) of 3.85% per year, over 12 months. The current level is 3.42%. However, the report shows a slight increase of the Macroeconomic Confidence Indicator compared to June, to 43.7 points. Compared to July 2017, however, the indicator went down by 16.2 points.