On Friday, the central bank set the leu’s reference rate versus the euro at 4.5210, down a mere 0.02% from 4.5202 units the previous day.
Claudiu Cazacu, X-Trade Brokers Romania chief analyst, told MEDIAFAX that the dollar and the euro are expected to hit parity in the upcoming weeks.
According to Cazacu, the dollar surged on the backdrop of the decision of U.S. Federal Reserve to raise interest rates by a quarter point and the announcement that it was likely to hike them three more times in 2017, up from the two increases forecast at the central bank’s meeting in September.
“The US dollar is strengthening against the euro, while the euro is strengthening against the Romanian leu, thus, the effect towards the Romanian leu is cumulated,” Cazacu said.