Romania’s currency exchange rate could remain stable until the presidential elections in November

In 2009, the Romanian currency could have the lowest volatility rate yet. BCR bank analysts in Romania are expecting a steady exchange rate, at least until November, just before the presidential elections. The bank’s research department is expecting a 4.2 Lei/Euro course for 2009, 4.1 Lei/Euro for 2010 and 4 Lei/Euro for 2011.

“The Romanian currency could show one of the lowest volatility rate compared to the last three years. It is very important that we avoided the massive undervaluation that other currencies in the region recorded, like the forint and the zloty,” said Lucian Anghel, chief economist at BCR Romania.

More by token, last year’s exchange rate has shown a similar stability in the November period, recording a steady course of 3.7-3.8 Lei/Euro.