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.
President Nicușor Dan, in office for roughly three months, attended the Salzburg Industrialists' Summit, the most important reunion of the Austrian business community, urging them to invest in Romania. Specifically, the president emphasized the strategic opportunities in the defense, energy, infrastructure, and logistics sectors. “Romania is significantly expanding its defense industry. Our sector offers real […]
A scandal broke out on Friday, July 25, after it was made public that deputy prime minister Dragoș Anastasiu was a witness in an older corruption case involving one of his companies. The company, Eurolines, paid bribes for eight years to a financial inspector from Romania’s tax agency ANAF. Records from the Anti-Corruption Directorate show that between […]
A scandal broke out on Friday, July 25, after it was made public that deputy prime minister Dragoș Anastasiu was a witness in an older corruption case involving one of his companies. The company, Eurolines, paid bribes for eight years to a financial inspector from Romania’s tax agency ANAF. Records from the Anti-Corruption Directorate show that between […]
The Drapers' Bastion in Brașov, built between the years 1450–1455, will be restored with European funds. The urban landmark will become an interactive museum integrated into the tourist circuit. The rehabilitation of the Drapers' Tower will support not only tourism but also the construction sector, contributing to the economic and cultural revitalization of Brașov, according […]
The National Meteorological Administration (ANM) has issued a code-red warning for persistent and intense heat from July 26, 10:00 AM to July 27, 10:00 AM for the regions of Banat, Oltenia, most of Muntenia, and southern continental Dobrogea. Day temperatures are expected to reach between 39 and 43 degrees Celsius, while the temperature-humidity index is […]
The fifth edition of Jazz Bastion will bring three concerts to the Weavers' Bastion in Brașov, featuring musicians from Romania, Ireland, and Switzerland. This year's edition "highlights the cultural diversity of music, which always brings together artists and audiences alike, regardless of language, nationality or affinities," the organizers explained. The public can attend performances by […]
