Macroeconomic Forecast Romania

The Romanian leu looks set to remain under pressure, as uncertainty over Romania's ability to deal with its budget deficit continue to abound. We expect the leu to continue trading around the RON4.2000/EUR level in the short term, which we reiterate as our end-2010 target. Against the US dollar, we see the leu at RON3.0400/US$ by the end of the year.

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