Unstable rate of exchange, NBR will avoid interventions

Unstable rate of exchange, NBR will avoid interventions

The central bank will avoid any intervention on the exchange market, while the rate of exchange will be unstable in the following period, stated the head of NBR’s financial stability direction,  Ion Drăgulin.

Related:

• NBR rate of exchange: 1 euro = 4,0296 lei
• Bucharest Stock Exchange keeps on going up
• Leu depreciation - 3,7603 lei/euro rate of exchange

The official said the current situation contributes to the instability of the exchange rate.

Irrespective of the short-term problems, obviously NBR politics would tend to avoid interventions, up to the point till macroeconomic measures will come in the support of the monetary market”, said Drăgulin.

He added exchange market should be treated carefully.

“Temporary evolutions must be treated with prudence, although they show vulnerability”.