Loading ...Operations on the foreign currency exchange market in the fall of 2008 were aimed at depreciating the exchange rate, to 4.2 leu/euro in a first stage and then to 4.5 – 4.75 lei/euro, governor of the National Bank of Romania (BNR) Mugur Isarescu said Wednesday.
Isarescu has warned that Romania's reserves are insufficient, as they are not related assessed in relation to imports but to the commercial debt on the short term, mostly created by the commercial banks in an attempt to get a market share. Isarescu highlighted the market is not faced with a liquidity crisis but this is more of a media impact given that banks who last fall claimed a liquidity crisis now say there is a liquidity excess.
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