The RON has been fast to lose ground to the American dollar overthe last few weeks, amid negative investor sentiment due to theEuropean debt crisis, which could expose Romanians to price hikes,primarily in the case of fuels.
The US dollar climbed to a fourteen-month high at the end oflast week, crossing the 3.32-RON mark and seeing a 6.5% rise thismonth. Since the beginning of 2010, when it amounted to 2.9 RON,the American currency has gained around 13%. But the appreciationseen of late is circumstance-driven, dealers say - the investors'concern over the European debt crisis and the improved Americaneconomic performance. The euro has in turn lost more than sevenpercent to the American dollar in the last month.
"The fact that macroeconomic figures published of late arebetter in the United States than in Europe has led to a recentstrengthening of the dollar. A contributing factor is Europe's debtcrisis," a bank dealer commented.
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