EUR/RON exchange rate drops below 4.5 for the first time in 2016

The official EUR/RON exchange rate announced by the Romanian National Bank (BNR) fell below the 4.5 threshold for the first time this year, reaching 4.4763. The EUR has been trading above RON 4.5 from mid-December last year. In the next period, the EUR/RON rate will probably stay between 4.38-4.52, similar to the last few years, according to Ciprian Dascalu, ING Bank Romania chief economist, cited by local Mediafax. BNR sold about EUR 500 million in the last two months, and the higher volumes when the EUR/RON exchange rate was higher suggested that the upward movement was limited, according to ING Bank representatives. In 2015, the EUR/RON exchange rate went up by close to 1%. editor@romania-insider.com