Romanian Central Bank Admits Intervention to Curb Currency Fall

Romania's central bank intervened in the second half of January to curb the rapid depreciation of the Romanian leu to the euro, central bank governor Mugur Isarescu said Thursday.

6 views

Imaginea articolului Romanian Central Bank Admits Intervention to Curb Currency Fall

Romanian Central Bank Admits Intervention to Curb Currency Fall

“Any turmoil comes at a cost. That movement did not surprise us but it was very dangerous and happened overnight. (…) It was not an easy time. I admit. I can't deny intervention because it is too obvious,” Isarescu said at a press briefing following the central bank's monetary policy meeting.

In the second half of January, the Romanian leu lost 1.5% to the euro, to a record low of more than 4.76 lei to the euro. The local currency also depreciated against the US dollar and the Swiss franc.

 

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.

 

The free download of the press materials (text, photo and / or video), bearers of intellectual property rights, is approved by www.mediafax.ro only within 250 signs. Spaces and URL / hyperlink are not taken into account when counting signs. The collection of information can only be done in accordance with the terms agreed and mentioned here