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.
JTI, one of the world’s largest manufacturers of tobacco and vaping products, established a technological hub in Romania, with about 140 employees currently and considering further expansion. The new center provides business technology solutions, data and analytics, software engineering, cyber security, and infrastructure & operations. The experts in Bucharest provide information technology support for all […]
Elena Lasconi, the president of the opposition party USR, said that she is working with her colleagues on drafting a no-confidence motion against the government headed by Social Democrat leader Marcel Ciolacu. She also urged the Liberals and their president, Nicolae Ciucă, to back USR's action. "I met thousands of soldiers, I have also been […]
American basketball player Marie Tyra Whitehead, aged 26, was found dead in the apartment where she lived, according to an announcement by Romanian basketball club CSM Târgoviște. Authorities stated that initial examinations revealed marks consistent with hanging on the athlete’s body, but the police are continuing their investigation to determine the exact circumstances of her […]
Romanian MEP Diana Șoșoacă was penalized for disrupting a session of the European Parliament in July of this year. She will be unable to participate in the Parliament's plenary session for seven days, during which time her daily allowance will be withheld, MEP Sigfried Mureșan announced. Back in July, the fiery far-right politician Diana Șoșoacă
Artificial intelligence (AI) technology is becoming increasingly popular in companies in Romania. According to a recent study by the consulting company VUCAMIX, 86% of companies in the local market have already adopted AI, in various forms. However, in 40% of cases, it was the personal initiative of the employees, not a company decision. The study […]
Bringo, the first brand to bring grocery delivery services to Romania, together with Carrefour Romania, announces a new and innovative feature: the collection of refundable packaging as part of the Deposit Return System - SGR for orders placed from Carrefour hypermarkets. This partnership promotes responsible shopping and continues the e-grocery advancements led by the two […]
