Top

Eugen Radulescu: Priority of Central Bank is protection of hard-currency reserves

December 11, 2008

Romania’s Central Bank (BNR) has as a priority the protection of the level of mandatory reserves, said, on Thursday, an official of the central bank, asked by the press about the possible ’safeguarding’ of a euro-leu rate of exchange, for keeping inflation under control.

‘As governor Mugur Isarescu said, BNR has an intention to protect the level of hard currency reserves, as a priority, ‘ said at a symposium of the central bank, Eugen Radulescu, head of the Auditing Department of BNR.

In the past days, the Romanian leu currency has depreciated vs the euro, and the quotations in the inter-banking hard currency market for the European currency have exceeded 3.9 lei.

In point of inflation, which fell this Nov to 6.74 percent (annual inflation), from 7.39 percent in the previous month (Oct 2008/Oct 2007), Radulescu said the figure could be expected, more or less, and the impact of the fall in the price of oil is very visible. AGERPRES

k

Comments

Got something to say?





Bottom