Romania's upcoming presidential elections could increase the volatility of the domestic 'Leu' in the short term, yet the long-term impact will be minimal, shows a Currency Outlook by fintech iBanFirst, one of the main global providers of foreign exchange and international payment services.According to the document, the EUR/RON exchange rate has the potential to increase in the short term to 5.00 RON for 1 EUR, but a sustained increase of the euro next year is not expected."For the last months of this year and well into 2025, the driving force of foreign exchange markets and the entire financial system will be the normalization of monetary policy in both the EU and the United States. As central banks make moves to adjust their policies, the effects will significantly shape market sentiment and investment strategies globally. The Romanian presidential elections as well as the US presidential elections will have minimal long-term effects on the currency market. Other factors, including China's economic trajectory, weak liquidity across market segments, and geopolitical developments in the Middle East, remain unpredictable and could influence the market," shows the document.Analysts don't expect a significant drop in the USD/RON rate. Given the current strength of the dollar, if the rate approaches 4.44, it could trigger a technical rebound, similar to what occurred a month ago. This will drive investors to buy dollars again in anticipation of a rise, the report notes."As for the EUR/RON, there is short-term upward potential, with a target of 5.00. This is largely driven by lower bond yields, driving investors to put tactical bets on the euro in hopes of short-term gains. This also explains the recent increase in the EUR/USD rate. However, this trend is not expected to last, and analysts predict no sustained rise in the euro next year, including against the RON," the cited source said.On the other hand, if the U.S. election results are uncontested, analysts forecast the EUR/USD to fluctuate between 1.07 and 1.12 until the end of the year, with the exchange rate influenced in these months and next year by two key structural factors: solid U.S. economic performance and superior U.S. stock market performance.Founded in 2016, the Brussels-based fintech iBanFirst provides cross-border payment, foreign exchange and risk management services to trading companies, combining the capabilities of a state-of-the-art platform with the expertise of forex experts.
The US official export credit agency, EXIM Bank, has approved a financial commitment of up to USD 99 million to support the development of Romania’s 462 MW small modular reactor, or SMR, project near the village of Doicești. The funds are designated for RoPower Nuclear SA, a joint venture equally controlled by the state-owned company […]
At a time when our thirst for knowledge is growing, as is the amount of content available online, the use of AI summarization tools is becoming increasingly common. Let's take a look at how these AI tools are emerging as a time-saving solution for our busy schedules. Why AI summarizers are gaining popularity The amount […]
The Games in Schools program, through which hundreds of students across Romania are taught history, geography, and other subjects with the help of video games, is entering a new phase this fall and expanding. The Romanian Game Developers Association launched the Games in Schools, or RGDA, program in 2022 to provide alternative tools to teachers […]
Output and new orders down at fastest rates since February Survey-record drop in payroll numbers, while confidence dips Below average input and output price inflation signalled The manufacturing sector in Romania remained under pressure in September, as operating conditions deteriorated at the most pronounced rate seen since February. Subdued demand conditions played a large part […]
Bucharest and twelve other cities across Romania will open their alternative contemporary art spaces for a long program during the weekend of October 4-6, marking the 18th edition of the White Night of the Galleries. The public will be able visit galleries, alternative spaces, creative hubs, and art studios in Bucharest, Brașov, Cluj-Napoca, Craiova, Deva, […]
Catalyst Romania has invested EUR 2 million in Romanian robotics development company Adapta Robotics. Women in Tech (WIT), a business angel community, participated in the round. The investment will allow Adapta Robotics to further customize its flagship MATT Robot to serve various industry verticals, strengthen its sales and marketing teams, and establish strategic partnerships with […]
