National Bank of Romania 
National Bank of Romania Keeps Key Interest Rate At 6.25%
National Bank of Romania Board (BNR) decided, in today’s monetary policy meeting, to keep key interest rate at 6.25%, for the ninth consecutive session. Also, the minimum reserve requirement ratios in lei and foreign currency demanded from credit institutions were kept at the current level of 15% and 20%. citeste mai mult
Romania Central Bank Increases 2011 Inflation Forecast To 5.1%
Mugur Isarescu, governor of National Bank of Romania, announced today that the central bank decided to raise its inflation forecast for the end of the year from 3.6% to 5.1%. Also, the forecast for 2012 has been upped, from 3.2% to 3.6%. Romania's annual inflation rose to 8% in March, the highest figure since August 2008. The spike in inflation was due to higher food and oil prices on international markets, but also to a five-percentage point increase in the sales tax in July 2010. citeste mai mult
Romania 2-Month Current Account Deficit, 17 Times Lower Than In January-February 2010
National Bank of Romania data shows that current account deficit of balance of payments stood at EUR 44 million after the first two months of this year, 17 times lower than the level of EUR 747 million registered in January-February 2010. This development was due to the reduction of balance of trade deficit, from EUR 814 million to EUR 175 million, and the increase of current transfers surplus, from EUR 333 million to EUR 534 million. Current account deficit was fully covered by non-residents' direct foreign investments, which totaled EUR 294 million, twice as high as the value registered in January-February 2010, of EUR 140 million. EUR 267 million of the total foreign direct investment were intra-group loans and EUR 27 million equity consolidated net loss estimates. Romania’s foreign debt on medium and long term in late February was EUR 72.8 billion (79.4% of external debt), up 1.1% compared with late last year. Also, short-term... citeste mai mult
Exchange Rate Hits New 14-Mo Peak
The National Bank of Romania announced today a reference of 4.0716 RON/Euro as the Romanian currency extended early gains against the euro in mid trade session. The exchange rate shown by the central bank represents a 14-month peak. A stronger rate, of 4.0629 units per euro, was set on January 6, 2009. For the US dollar, the leu's indicative reached 3.0469, down over 1% from 3.0144 Tuesday. citeste mai mult
Romania's Forex Reserves Reach An All-Time High
According to the National Bank of Romania (BNR) data, Romania’s foreign exchange reserves rose EUR1.7 billion in February reaching an all-time high of EUR29.739 billion. This evolution was fueled by two tranches from the International Monetary Fund. The central bank said foreign exchange inflows stood at EUR3 billion in February, mostly from the third and fourth tranches of the stand-by agreement. Last month, Romania received EUR2.45 billion of the total EUR13 billion loan, half of the sum going to the BNR reserve. Outflows from reserves totaled EUR1.3 billion in February. In addition to its foreign exchange reserves, the central bank reported holdings of 103.7 metric tons of gold with a total market value of EUR2.726 billion. Therefore, Romania's overall international reserves amounted to EUR32.465 billion in February, compared with EUR30.623 billion at the end of January. citeste mai mult
