The Romanian leu weakened to an all-time record level against the euro amid growing political uncertainty on Wednesday, central bank data showed. The central bank, BNR, set its reference exchange rate at 4.9495 lei per euro on Wednesday, a drop of 0.02% compared to Tuesday's value. On Wednesday morning, the leu changed hands at between 4.9460 and 4.9520 per euro on the interbank market, according to real-time interbank forex trading data published by information portal Conso.ro. CFA Romania, an association of investment professionals, said in August that they expect an exchange rate of 4.9829 lei per euro in the next six months and 5.0455 lei per euro in the next 12 months. The leu has been weakening since the beginning of September after ministers of the centre-right bloc formed by USR and PLUS parties, a junior partner in the governing coalition, resigned. USR PLUS withdrew its support for liberal prime minister Florin Citu after he dismissed Stelian Ion, the justice minister nominated by USR PLUS, for refusing to back an emergency decree on a 50 billion lei financing scheme for development of rural areas. On September 28, the Constitutional Court is expected to rule on the validity of a censure motion initiated by USR PLUS and opposition right-wing nationalist party AUR against the government. The ruling is expected three days after the National Liberal Party (PNL) congress at which Citu will challenge party leader Ludovic Orban.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
