Mugur Isarescu: Foreign exchange reserve, element of credibility

Governor of the National Bank Mugur Isarescu on Thursday mentioned again the role of the country's foreign exchange reserve as an element of credibility on foreign markets.

Isarescu said once more that in the 90s the National Bank had problems with the level of its international reserve, but after 2000 this reserve increased tremendously.

There were also time spans when things were flat and this is not bad as regards the evolution of the reserve of the National Bank of Romania (BNR), said the Governor.

"One of the goals I myself aim at is to show that the perception according to which the international reserve must grow incessantly is not correct. The growth of the gold reserve, for instance, stopped at 103 tonnes in the past ten years," said the Governor. He added that Romania's international foreign exchange reserve had "a structure that is stable enough, which is also given by the structure of the foreign trade."

Agerpres