Romanian Central Bank Admits Intervention to Curb Currency Fall

“Any turmoil comes at a cost. That movement did not surprise us but it was very dangerous and happened overnight. (…) It was not an easy time. I admit. I can't deny intervention because it is too obvious,” Isarescu said at a press briefing following the central bank's monetary policy meeting.

In the second half of January, the Romanian leu lost 1.5% to the euro, to a record low of more than 4.76 lei to the euro. The local currency also depreciated against the US dollar and the Swiss franc.

 

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