The Romanian currency Leu (RON) is expected to strengthen to a rate of RON 4/EUR by December this year, according to the JP Morgan analysts. The latest exchange rate was of RON 4.2048 per EUR on Friday afternoon, slighlty up on the Thursday exchange rate, following the Japan earthquake on Friday morning, whcih affected financial markets across the globe.

Last week, the RON reached the peak of the last nine months, to RON 4.1869 per EUR. According to the Royal Bank of Scotland analysts, quoted by Romanian daily Ziarul Financiar, the RON could reach a rate of RON 4.1 per EUR in the next six months. UniCredit has also set a target of RON 4.1 per EUR. On the other hand, Deutsche Bank analysts see the Romanian currency stabilizing at RON 4.2 per EUR at the end of this year and at a similar rate in December 2012.

editor@romania-insider.com