January 22 (SeeNews) - The Romanian leu weakened to a new all-time low against the euro on Tuesday, central bank data showed.
Romania's central bank, BNR, set its reference exchange rate at 4.7142 lei ($1.14/1.0 euro) per euro on Tuesday, 0.13% weaker than 4.7081 lei per euro on Monday.
On Tuesday morning, the leu changed hands between 4.7054 and 4.7249 per euro, according to real-time interbank forex trading data published by information portal Conso.ro.
CFA Romania, an association of investment professionals, said on Tuesday that they expect an exchange rate of 4.7168 lei per euro in the next six months and 4.7883 lei per euro in 2019.
The Romanian leu started to lose ground against the euro at the beginning of January and has continued to weaken since.
"The EUR/RON hit another all-time high yesterday, trading around 4.7150 in large volumes concentrated mainly in the second part of the trading session. The pair closed slightly lower, around 4.7100 as the upward trend seemed to be losing steam a bit. The National Bank of Romania signalled that it won’t let carry rates idle at the deposit facility and organised a deposit-taking auction," ING Bank analysts said on Tuesday in a daily market snapshot.
(1 euro=4.7142 lei)