Euro-RON exchange rate at the discretion of the foreign banks

The EUR-RON exchange rate is very difficult to predict because it reacts very little to the economic changes from Romania and depends considerably on the speculations of some major foreign banks and, respectively, on the control of the National Bank of Romania and on the extent to which BNR copes with the respective "attacks," an X-Trade Brokers analysis shows.

In a press release remitted to the editorial offices, Victor Safta, manager of the branch from Romania of the biggest brokerage house from Central and East Europe, X-Trade Brokers, shows that if the EUR-RON price "breaks" the level of 4.2430, it will continue to grow and will reach the final target of RON 4.31-4.35 per one EUR.

The analysts from X-Trade Brokers stressed that the EUR/RON pair is "difficult to speculate" because of the wide spread offered by the market makers, and also because of the low liquidity and the "chaotic" moves that it registers. "Obviously, in most of the cases, the significant changes that may occur in the economy of a country, of a region, and also various global evolutions, affect the predictions of the technical analysis and determine variations that cannot be estimated.

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