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.
I am a bit late to the party, but I have thoughts (and concerns) on Radu Jude’s much talked-about Dracula, and even more thoughts (and compliments) on other films that I fear might have gone under the radar a bit. Let’s go! There is no more recognizable marketing asset for the local tourism (and no […]
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North Bucharest Investments has been honored at the CIJ Awards 2025 with the Best Residential Real Estate Agency of the Year distinction — a recognition of the company’s performance, dedication, and strong positioning within Romania’s high-end residential market. “This award is about people. About those who choose, every single day, to believe in this company, […]
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Over EUR 1 million was raised at the 25th Christmas Tree Festival, which took place on Thursday, December 4, at the National Museum of Art in Bucharest. Funds will be used by Save the Children Romania, the organizer of the auction, for access to quality education. The tree that raised the most money in the […]
