The foreign exchange reserves of the National Bank of Romania (BNR) were 63.187 billion euro at the end of August 2024, dropping by 0.62% as compared to the level of 63.579 billion euro, on 31 July 2024 according to a press release of the Central Bank sent on Monday. During the month of August there were inflows of 2.397 billion euro, representing the change of the minimum reserves in foreign currency made by the credit institutions at BNR, the replenishments of the accounts of the ministry of finance and others. There were also outflows of 2.789 billion euro, representing the change of the minimum reserves in foreign currency made by the credit institutions at BNR, installment payments and interests in the account of the public debt in foreign currency, payments from the account of the European Commission and others. The level of the gold reserve remained at 103.6 tons. Under the conditions of the international price developments, its value was 7,588 billion euros. Romania's international reserves (currency plus gold) on August 31 2024 were 70,775 billion euros, compared to 71,029 billion euros on July 31, 2024. The payments due in September 2024 in the account of the public debt denominated in foreign currency, direct or guaranteed by the Ministry of FFinance, amount to approximately 685 million euros.
The number of people in Romania at risk of poverty stood at 3.59 million people in 2024, 375,000 fewer than in 2023, representing a 9.4% decrease, according to data from the National Institute of Statistics, or INS. Despite the improvement, nearly one in five Romanians was affected by poverty last year. According to INS, 19% […]
The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca carried out multiple searches on Tuesday, July 1, at the Sibiu International Airport and the Sibiu County Council as part of an investigation into suspected fraud involving a EUR 54 million EU-funded infrastructure project. A total of 24 locations were searched across Bucharest, Brașov, and Sibiu county, […]
A Romanian taxi driver who scammed 90-year-old Nigerian Nobel Prize laureate Wole Soyinka was detained by police on Sunday, June 29, according to media reports. On Friday, June 27, the venerable Nigerian arrived at Bucharest's Otopeni Airport. He got into a taxi and asked to be taken to a hotel downtown. At the destination, the […]
Costin Șerban, a Romanian entrepreneur, is digitalizing the construction sector in the United Kingdom with an ERP (enterprise resource planning) solution developed over 12 years and an investment of GBP 1.6 million (EUR 1.86 million). Șerban’s cloud-based ERP platform is called Abilo, was developed by the Romanian IT company Obi Systems, and is dedicated to […]
Border checks between Bulgaria and Romania have officially been lifted on July 1, as part of the implementation of the Schengen Agreement. The lifting marks the end of the transitional period of heightened control at the internal border, which had remained in place for six months following their accession to the Schengen area by land […]
Remus Vulpescu became CEO of the Bucharest Stock Exchange (BVB) on Tuesday, July 1, taking over from Adrian Tănase as the stock exchange grapples with a market dominated by government bonds. Vulpescu, 53, is a graduate in political and legal sciences from the University of Bucharest and holder of an EMBA obtained in 2017. He […]
