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Ruling Party: Currency Drop Is Artificial, National Bank Should Ensure Stability

Romania’s ruling Social Democrat Party (PSD) accused that the drop of the country’s currency against the Euro in exchange rates was artificially created and urged national bank BNR to ensure stability in this regard, in a post on the party’s official Facebook page.
Ruling Party: Currency Drop Is Artificial, National Bank Should Ensure Stability
Ionut Preda
28 ian. 2019, 15:49, English

Quoting economic data previously stated by Government and party officials, PSD says that the only conclusion can be that the hike in exchange rates between the two currencies can only be attributed to artificial factors.

“If foreign investments were on the rise and brought more euro in the country, if more EU funds were absorbed which brought more euro in Romania, if less Romanians left the country and withdrew less euro (…) then the rise of the euro is artificial! What is BNR doing when it has the obligation to supervise the bank system and ensure the stability of the exchange rate?” the group stated.

The reaction comes after the Romanian leu tumbled to a new record low of 4.7648 units against the euro on Friday, following three consecutive weeks on the downturn. The national currency lost 2.16% against the euro since the start of 2019.