The leu-euro exchange rate could register fluctuations in both directions in the coming period and tensions may continue until there are clear answers regarding Romania's political and financial stability, Spokesperson of the National Bank of Romania (BNR) Dan Suciu said on Thursday.
"It is a period of instability, it is being felt by the markets, it is a turbulent period. There are many answers the markets are expecting from Romania's political and financial situation. In the coming period we will probably witness exchange rate fluctuations, likely in both directions, but until we have clear answers regarding Romania's political and financial stability, tensions may continue. It is a situation we are going through, we are trying to manage it at the National Bank with all the resources and tools we have available, but we must understand that the answers lie elsewhere, they are not at the National Bank, when it comes to calming the markets," Dan Suciu said while attending the financial education symposium called "Financial literacy to support security, independence and inclusion.", agerpres reports.
He was asked by journalists whether there was a possibility the exchange rate could reach a high level of 6 lei for one euro.
"We do not put forward figures or levels. We must find an optimum for the current situation, taking into account all the resources we have and all the constraints under which we operate, those linked to, as I said, finding an answer to the question of governance and financial stability. Please allow me not to make further comments, it is a situation in which every word can be interpreted by the markets, so ultimately, we are all in the same boat, wishing for as reasonable an exchange rate as possible," Dan Suciu explained.
The National Bank of Romania organised on Thursday the financial education symposium called "Financial literacy to support security, independence and inclusion."
The event was organised in partnership with the Financial Supervisory Authority (ASF), the Romanian Banks Association and the Organisation for Economic Co-operation and Development (OECD), on the sidelines of the semi-annual meeting of the OECD International Network on Financial Education (INFE).
