September 21, 2018

Mugur Isarescu: The Central Bank can support the leu

On Wednesday, the National Bank of Romania (BNR) governor Mugur Isarescu reassured the ruling coalition leaders that the central bank has the necessary reserves to maintain the leu-Euro exchange rate balance, if European banks don’t assure a high level of capital for their Romanian branches. Deputy Varujan Pambuccian said that “the problem is whether mother-banks inject money to Romania or not, because they need liquidities. The governor can do everything possible to keep the exchange rate within normal limits and he assured us that there are no problems here. It’s clear we can maintain the exchange rate; we have resources to do this. We needn’t worry; the problem is what the real economy will do”. According to the minorities’ group leader, the BNR governor also assured coalition leaders that the Romanian banking system is stable and local banks don’t have problems.

Source: Bucharest Herald (read more)

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