At midday on Thursday, BNR calculated the average transaction value for the euro/lei pair at 4.97 lei, after the quote fluctuated between 4.92 and 4.93 lei per euro a week ago. This is the largest depreciated value of the lei, but it is possible that this record will be surpassed in the near future.
Regarding the EUR/RON exchange rate, 81% of respondents to the CFA Romania survey expect the lei to depreciate over the next 12 months (compared to the current value). Thus, the average value of expectations over a 12-month horizon, the average value of the expected exchange rate is 5.0274 lei per euro.
The depreciation is taking place against the background of structural problems in the economy – a high budget deficit, a huge trade deficit, a chronic lack of reforms, and all because of a poor history of access to funds provided by the EU through the PNRR
Source: Hot News
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