The exchange rate climbed on Tuesday towards the 5.1 lei/euro threshold, and this depreciation will be seen in higher prices for various products and services, interest rates have risen and are likely to remain high, which makes investors and the business environment have some legitimate concerns, said the executive director of the Concordia Employers' Confederation, Radu Burnete. 'After a long period of stability for the exchange rate (1-2 years), today we have seen a rapid rise towards the 5.1 leu/euro threshold, amid growing pressures on the foreign exchange market. The central bank has made efforts and intervened recently to defend the exchange rate, but this could not be done indefinitely. The depreciation of the leu will be seen in higher prices for various products and services (telephone, gas, petrol, etc.), which means higher inflation. However, Romanian products will become more competitive for export, which could help to reduce the trade deficit and balance Romania's external situation', Burnete explained. According to him, interests could be kept at a high level, due to the need to finance the state.'Amid all this uncertainty, interest rates have risen and are likely to remain high, given the government's pressing need for financing in the context of a very high deficit. The moment is a sensitive one, and investors and the business environment have some legitimate concerns,' Radu Burnete pointed out. The Stock Exchange in Bucharest reacted negatively at the results of the first round of presidential elections and at the changes on the political scene, while interests which indicate the cost of loans increased, and the exchange rate of leu/euro surpassed the psychological threshold of 5 lei on Tuesday.According to the BNR data, the euro was quoted to 5.0378 lei on Tuesday, up by 6.03 bani (1.21%) against the previous quotation, of 4.9775 lei, registering a historic maximum.The three-month ROBOR index, which is used to calculate the cost of variable-rate consumer loans in lei, rose to 6.08% p.a. from 5.90% p.a. in the previous session.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
