Analiză HSBC: Deprecierea leului era inevitabilă. Banca estimează un curs de 5,35 lei/euro la mijlocul anului 2027

HSBC analysts predict the depreciation of the Romanian leu against the euro was expected due to previous overvaluation. They estimate a rate of 5.35 lei/euro by mid-2027, noting that the National Bank of Romania (BNR) is still active in the currency market with sufficient reserves. However, political crises and liquidity constraints may continue to pressure the leu. Despite recent fluctuations, HSBC does not see this depreciation as a shift in Romania's managed floating exchange rate regime. They emphasize the need for political stability and the upcoming sovereign rating review by S&P as key factors for market stabilization.