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BNR : in the period that passed the leu had some stability
The leu had some stability during the period that passed, at least compared to other currencies in the region, but the political instability does not help the wellbeing of the economy, stated on Friday the spokesperson of the Central bank - BNR's Dan Suciu.
‘As we have seen during the period that passed, the leu had some stability, as much as possible, I repeat this statement, during the respective period.There were no big fluctuations. At least compared to other currencies in the region, the leu was extremely stable in the evolution on the level of 4.82 – 4.84 despite the data which were connected to the economy. This has at least two causes. It is obvious that BNR has a consistent foreign currency reserve, one which reached a top during this period,which discourages any speculation for the rate. At the same time, the fact that there was a policy for the reduction of the interests did not influence the exchange rate, and as we had some trust in the evolution, and the control of the economy, as much as the national bank can do it and a government can do in these conditions.We see no domestic reasons which would lead to a different evolution. Surely if the pandemics continues, the situation remains one which will evaluates within the given indicators .In case the political crisis strengthens surely this will influence the evolution of the economy, and surely it will influence it’ stated Dan Suciu, for Digi 24.
According to the quoted source, the two constraints capable to bring new elements are the evolution of the economic crisis and the evolution of the political crisis. ‘The economy goes towards a trend of getting out of the most difficult situation, but this is a very slow process which has constraints depending on the way the companies manage to surpass the difficult moments and we will see at the beginning of the year which is the situation connected to the evolution of the unemployment and the loans which were postponed for payment through the decisions of the last period for the beginning of the next year. These are the two elements which are under discussion’ Dan Suciu said.
Asked about the future censure motion and the possible impact of it on the exchange rate, he mentioned that ‘ not the parliamentary procedure is the one which worries, but a political instability generated or which could result from one procedure or another’. ‘If this decision gets to political instability surely this will not help the stability of the exchange rate and well being of the economy. But it is difficult to comment. It is to be seen what is going to happen and which are the steps to take after a possible censure motion which could create or not political instability.I repeat. Not the parliamentary procedure is that which worries, but a political instability generated or which could result following the procedure. Depending on this, we wil see what the national currency will respond, but don’t forget that we enter an electoral period and obviously electoral periods bring a seris of unknown things’, Dan Suciu said.