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.
PPC Renewables Romania has installed the first two turbines at what will become the largest wind farm in the country’s Moldova region, located in Vaslui county, the company announced. The Deleni wind farm will feature 23 turbines with a total installed capacity of 140 megawatts. Equipped with GE Vernova turbines of 6.1 MW each - […]
Three Romanian artists, Maia Ștefana Oprea, Alina Tofan, and Cătălin Rulea, have created new site-specific works inspired by the natural and cultural heritage of the Țara Hațegului UNESCO Global Geopark, to be showcased in Bucharest as part of the exhibition The Big Green: Soil. The show, running August 27 to September 14 at the “Dimitrie […]
Real estate developer Nusco has sold one-third of the villas in its new residential project, Nusco Green Homes, a premium sustainable housing compound north of Bucharest. Located in the town of Tunari, the EUR 30 million development includes 61 villas, of which 21 have already been sold, the company said. Marketed as the first fully […]
Romanian startup rentnbuy.com, a proptech platform connecting tenants and landlords, has officially launched on the local market after securing a EUR 550,000 pre-seed investment at a valuation of more than EUR 5 million. The company said it plans rapid expansion across Central and Eastern Europe, Ziarul Financiar reported. The platform, which...
Romania is set to transfer to Ukraine the 23rd military aid package since the start of the war, according to Ukrainian defense minister Denys Shmyhal. Romania “has already provided Ukraine with 22 military aid packages, and soon our soldiers will receive the 23rd,” the minister said in a Facebook post, without giving details about what […]
Romania is among the European countries with the lowest share of employees working overtime, according to data from Eurostat, the European statistics office. Therefore, in 2024, only 1.8% of Romanian employees aged between 20 and 64 declared that they had worked overtime. At the European Union level, 6.6% of employees worked long hours in 2024,
