Commerzbank: The leu could be rated at 4 units/euro in the near future

A level of the leu of 4 units/euro would be an appreciation of 2.6 % for the currency towards a quotation of 4.1032 units/euro reached during the transactions on Friday in Bucharest, a note of the analysts in the German bank said. BNR announced on Friday a rate of the leu of 4.1147 units/euro. On the interbanking market, the leu dropped under 4.1 lei /euor, reaching a new minimum of the last year. The leu increased by 1.4% during this week and had the highest appreciation within the 25 currencies on the emerging markets analysed by Bloomberg. Standard &Poor's promised to improve the perspective of the rating, which means that the leu appreciation of the last two weeks is justified" Lutz Karpowitz and Ulrich Leuchtmann, analysts with Commerzbank consider. Romania has BB+ on the part of Standard&Poor's, the highest level of the junk level ( non-recommended for investment). Since the nomination of the government on 23 December, the leu appreciated by 2.1%. « Without any doubt, we have to keep our feet to the ground. The inflation rate keeps high, at 4.7%, being possible to accelerate during the coming back. This fact is likely to limit the potential on a medium range" according to Commerzbank analysts.

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