Euro is likely to slide to 4.15 RON in the first quarter, from4.26 RON at present, believe ING analysts, who surprisingly revisedtheir forecast yesterday in the wake of the good news piling up inrecent weeks.
Traditionally, ING analysts had a downbeat vision over the RON,but now their projection is the most daring, while the otherdomestic analysts are still hesitating. According to the previousforecast, the euro should have climbed to 4.3 RON in March.
"The Government's determination to fulfil IMF requirements isnow much more obvious, both at a declarative level, and at thelevel of concrete steps. This suggests that a new arrangement withthe IMF may be reached by April, when the current agreementexpires, and chances of hitting this year's 4.4% of GDP budgetarygap target are higher," says Nicolaie Alexandru-Chideşciuc, chiefeconomist with ING Bank.
The March level would, however, be the best moment for theRomanian currency, with the euro set to climb to 4.3 RON in June,and then stabilise to 4.2 RON by December.
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