A level lower than that was recorded on Tuesday July 30, 2013, when the euro was quoted at 4.3907 lei. In turn, on the interbank market, the euro touched the lowest rate in the last year, and earlier yesterday, the lowest rate at which the transactions were made was of 4.3840 lei for a euro.
Analysts say that the strengthening of the national currency is accounted by the good news in the economy and the improved rating of Romania and that the appreciation is expected to continue, even if kept under control by the central bank.
A declining leu-euro exchange rate is beneficial to those who contracted loans in a foreign currency, but also helps to dampen inflation after the introduction of the additional excise duty on petrol in April. But on the other hand, the domestic currency has a negative impact on exports, which have been the main engine of economic growth last year.
So far, analysts have not changed a lot the estimates for the exchange rate at the end of this year. In early 2014, the bankers said that we could see rate oscillations between 4.35 and 4.65 lei for one euro and most forecasts indicate a rate in the range 4.35-4.55 lei.
"We will see pressure on the domestic currency to appreciate itself on the short term until the moment the international financial markets will go through another turmoil," said Andrei Radulescu, Economic Analyst, Senior Economist for Banca Transilvania invited on the Daily Income show.