BCR Sees Romanian Leu Stable Vs Euro In 2011

04.19.2011 By Florentina Dragu

Romania’s leu exchange rate will remain stable against the European common currency throughout the year, according to estimates from lender Banca Comerciala Romana, or BCR.

Romania's leu exchange rate will remain stable against the European common currency throughout the year, according to estimates from lender Banca Comerciala Romana, or BCR.

BCR kept unchanged its prognosis on the year-end exchange rate to 4.1 lei per euro, but said the variation band has dropped to a "more realistic level" of 4 to 4.2 lei per euro.

"We believe the 4-4.2 variation band is more realistic given the current international climate, when emotions vary and investor sentiment could change overnight," said Lucian Anghel, chief economist at BCR.

He said the central bank will continue to keep a close watch on the leu's evolution to prevent a high volatility in the coming period.