Barclays analysts project that the National Bank of Romania will continue to manage the euro‑Romanian leu exchange rate around its current level, using the rate as an anti‑inflationary anchor while inflation remains elevated. The firm notes that ongoing political uncertainty surrounding the appointment of the next prime minister is expected to keep the leu under pressure in the near term. Barclays further cautions that a presidential decision to call snap elections could add another leg of depreciation to the leu. From a valuation perspective, the leu is still considered expensive when assessed against real effective exchange‑rate and behavioral equilibrium exchange‑rate model benchmarks. The market reaction at the time of reporting showed the leu gaining 0.04% against the euro.