Romania Ctrl Bk Head: Leu’s Appreciation Helped Mitigate Large Shocks

„The economic operators used to include a certain margin in import prices (…) The leu’s nominal appreciation against the US dollar was substantial, of over 10%; it has tempered larger shocks, mainly in the fuels sector,” Isarescu told a news conference.

Isarescu said the leu’s appreciation in the first quarter was market-driven and the central bank didn’t target a specific exchange rate.

„It’s true that it (the leu’s appreciation) helped us (…) and import prices have at least slowed down their increase potential,” Isarescu said.