The BNR signals high risks for the stability of the euro-leu exchange rate: The Central Bank has spent over 1 billion euros to maintain stability.

The National Bank of Romania (BNR) has identified high risks to the stability of the euro/leu exchange rate, according to the minutes of the monetary policy meeting on April 7. BNR intervened in the foreign exchange market in March, spending over 1 billion euros to prevent the depreciation of the leu, affected by international volatility and the conflict in the Middle East. Additionally, BNR emphasizes the importance of continuing budgetary correction, which could have favorable effects on the sovereign risk premium and financing costs. Furthermore, BNR has maintained the monetary policy interest rate at 6.50% to stabilize the economy. Inflationary prospects have deteriorated, influenced by rising energy and fuel prices, in the context of the global energy crisis. Although prices have recently decreased, risks remain, and BNR anticipates a slight economic recovery in the first half of 2026, despite the uncertainties generated by the energy crisis.