The Romanian currency has onceagain become interesting for the world's financial centers, whichhave returned with bets on an appreciation towards 4 lei per euro,after having forgotten about the Romanian market for awhile.
This time their optimism has to dowith prospects of the BNR (Romanian National Bank) favoring afuture leu strengthening, which would help in fight against theincreasingly costly inflation. In addition, yields of RomanianT-bills, especially short-term ones, seem attractive, amid animprovement in the general economic outlook.
BNP Paribas and JP Morgan tradersprivately recommend to clients to bet on the leu, expecting anexchange rate of RON 4 per one euro.
Analysts of Barclays Capital, theinvestment division of one of the biggest banks internationally,and those of Citi, see prospects of a slight leu strengthening,recommending a bet on the Romanian currency in theirreports.
Ilker Domac, analyst within Citiin charge of emerging markets in the region, expects the euro toreach close to RON 4 on the back of the economic growth recorded inthe first quarter, coupled with the continuous improvement ofexternal performance and a lack of obvious evaluation problems.
Romania's economy expanded by 0.6%in the first quarter, in line with the expectations of the market.This was the second quarterly growth in a row, which translatesinto a technical exit from recession for the country
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