Mugur Isărescu, the governor of the National Bank of Romania, stated that the exchange rate has not been artificially maintained, highlighting the increase in international reserves by 40 billion euros in the last five years. He explained that the BNR intervened in the market, buying foreign currency to avoid the appreciation of the leu, especially through purchases from the Ministry of Finance.
Isărescu emphasized that if the Ministry had sold the surplus foreign currency directly in the market, the exchange rate could have reached 4.4. He also compared the situation with the Central Bank of Hungary, which is facing an appreciation of the forint. Isărescu mentioned that the BNR's interventions have been much lower recently, and the exchange rate seems to have found a level of equilibrium. He highlighted the importance of political stability and fiscal correction for maintaining balance in the market.
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