BNR Exchange Rates
12.03.2010- 1 EUR
4.0929 RON - 1 USD 2.9703 RON
- 1 CHF 2.8040 RON
- 1 GBP 4.5007 RON
The latest Financial and Banking news Last update: 12.03.2010
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11 Mar 2010 Governor Mugur Isarescu discussed with the bankers about norms, regulations and loan resumption The BNR governor Mugur Isarescu met at the BNR club the representatives of the banks and the officials of the Romanian Banking Institute, the discussions having a technical feature. " Governor Isarescu made a presentation of the banking system, after which the discussions continued about norms and regulations, cooperation between banks and the National Bank" sources quoted… read more -
10 Mar 2010 Romania will launch 1 billion euros worth of Eurobonds Romanian Central Bank (BNR) vice-governor Cristian Popa and Finance minister Sebastian Vladescu have stared on Monday, March 8 2010, a promotion tour: Romania will launch a Eurobonds issue on foreign markets. "Technically speaking, these road-shows used to be meetings between Romania's reps with foreign investors - banks, risk funds s.a. Romania's representatives will introduce a kind of Memorandum… read more
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10 Mar 2010 Romania keeps its target : euro starting January 2015 The convergence programme of Romania for 2009 - 2012 updated in February this year focuses on the reduction of the budgetary deficit under 3% of GDP and keeps the commitment to adopt the euro starting January 2015. The reduction of the budgetary deficit under the level of 3% of GDP in a sustainable way and Romania accession to the euro zone are the main commitments assumed by the government in the latest edition of the convergence programme… read more
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09 Mar 2010 Moody's: the perspective of the banking system in Romania is negative The perspective of the banking system in Romania is negative due to the difficult economic conditions determined by the world financial crisis, but the banks were capable to absorb the shocks, according to a report of the Moody's financial evaluation agency. The agency says that the financial support on the part of the IMF and the EU… read more
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09 Mar 2010 Romanians find it hard to pay back loans Debts in the payment of loans in euro and Swiss francs went up more rapidly in January than in 2009, while the payment delays over 30 days advanced by 14.7% against December, at 3.26 billion lei, according to BNR. Thus, after a monthly increase of debts in euro loans under 100 million lei in 2009… read more
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08 Mar 2010 BNR Governor Isarescu, still optimistic about GDP and inflation prospects Governor of the National Bank of Romania (BNR) Mugur Isarescu is still optimistic about the future developments in Romania's Gross Domestic Product (GDP) and inflation, and he is critical of what he called projecting becoming a national pastime with specialists. 'I want to be very clear that I am optimistic,' Isarescu said on Thursday… read more
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04 Mar 2010 Mugur Isarescu: You can't build highways with deficit in the pension budget Highways cannot be built in Romania in the conditions of the significant deficit of the pension budget, BNR governor Mugur Isarescu considers. "At present you cannot build highways with a deficit at the pension budget which absorbs all available sums from the central budget," BNR governor, quoted by Agerpres, declared in Timisoara on Tuesday… read more
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03 Mar 2010 FinMin: Budget collections in February amount to 98-99 percent compared to schedule Budget collections in February were made in an amount similar to the one in January, 98-99 percent compared to the schedule, Public Finance Minister Sebastian Vladescu told Agerpres on Monday. In January, the execution of the consolidated general budget registered a surplus estimated at 15.3 million lei and the consolidated general budget revenues amounted… read more
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02 Mar 2010 Fitch downgrades four Greek banks Fitch has revised downwards the ratings of National Bank of Greece (NBG), Alpha Bank, EFG Eurobank and Piraeus Bank, due to anticipated fiscal adjustments in Greece will affect to a even larger extent the profitability and asset quality."In particular, Fitch believes the required fiscal tightening that needs to be made by the Greek government… read more
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02 Mar 2010 Bankers expect mortgage loans to be unfrozen by March Bankers expect loans for homes to be unfrozen in the first quarter of the year, after imposing less restrictive standards on this segment compared with that of consumer loans in the last three months of 2009, according to a survey conducted by the NBR (National Bank of Romania)… read more
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02 Mar 2010 Florian Libocor, BRD: Romania should go through with the IMF agreement Romania should go through with the International Monetary Fund agreement, even there are voices saying that Romania could give up the other instalments from the foreign loan, BRD economist chief Florian Libocor. He mentioned that this is a proof that "we are serious". "There are voices saying that we could give up the other instalments from the IMF agreement, which are not that consistent… read more
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01 Mar 2010 Nouriel Roubini, special guest on Central & South-East European financial forum Nouriel Roubini, the person who accurately predicted the extent of the global financial crisis will attend the seventh edition of the Central & South-East European financial forum at the invitation of Forum Invest scheduled for May 24-26, the most important annual financial event in Romania, organized by Forum Invest and National Bank of Romania… read more
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26 Feb 2010 Money that left Romania is coming back - Dijmarescu The deposits volume in the Romanian banking system has grown lately, with the non-residents' deposits following the same trend on the background of the favourable difference in interest compared to other states, director of the Guarantee Fund of the Banking System Deposits Eugen Dijmarescu told Agerpres on Wednesday… read more
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24 Feb 2010 IMF second and third installment to enter today the accounts of the National Romanian Bank The second and third installment of the IMF loan, 2.45 billion euro, will enter on Tuesday in the bank accounts of the Romanian National Bank and state's Treasury, Romanian news agency Mediafax informs. IMF Council approved last Friday the evaluation report of the stand by agreement with Romania… read more
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24 Feb 2010 The financing portfolio for Romania by the WB The current portfolio financed by the World Bank in Romania is made up of 13 active loans, of 1.13 billion dollars, according to the data presented by the representatives of the ministry of finances with a team of the World Bank, led by the country manager Francois Rantrua… read more
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23 Feb 2010 John Lipsky : the Romanian banking system must be vigilent to a possible contagion "The Romanian financial system must be vigilent to the threats in the system and to the possible effects of a contagion" John Lipsky, the first-deputy of the general manager of IMF said on Saturday. According to information on the IMF site,John Lipsky chaired the meeting of the board which approved the money for Romania, worth 2.45 billion euro… read more
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23 Feb 2010 Banks bring 500 mln euros to Romania, in 2009 Commercial banks brought in 2009, to Romania, 500 million euros under the form of capital and subordinated loans, announced on last Tuesday, in a financial conference, Petre Bunescu, BRD deputy general manager and prime vice-president of the Romanian Banks Association (ARB)… read more
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23 Feb 2010 Governmental loan drains 29 bln lei from banking market in 2009 2009 was the year of the governmental credit on the banking market, the loan balance climbing 2.5-fold in 12 months, up to 46.8 billion lei (11 billion euros), whereas the total volume of population and corporate loans stagnated at some 200 billion lei (47 billion euros) Romania National Bank (BNR) data reveal… read more
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16 Feb 2010 BNR takes into consideration for 2010 price increase for gas, thermal energy and electricity BNR takes into consideration, in the basic scenario regarding the inflation prognosis, an increase of the tariffs by 5% gas, 4% electricity and 5.2% thermal energy with the exception of the last category the other price increases being over the previous estimates made by the central bank… read more
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10 Feb 2010 The ministry of finances drew almost 50 million lei through bonds for 12 months, interest 7.48% The ministry of public finances (MFP) drew, on Monday 499.99 million lei through an emission of bonds with maturity at 12 months, with interest 7.48% according to BNR. The initially announced value was 500 million lei and the maximum interest accepted was 7.50% per year… read more
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10 Feb 2010 Popa, BNR : Romania needs another year to come back to investment grade Romania's rating could go back to « investment grade » only after a period of one year, if the present feeling towards our economy continues to improve, Cristian Popa, vice-governor of the BNR says. Until the rating comes back to investment grade it is necessary to improve the perspective from negative to stable and then positive, then there are some months until the alteration takes place, even six months… read more
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09 Feb 2010 Isarescu says 5.9 pc deficit reasonable A budget with a deficit of 5.9 per cent of GDP is reasonable in the current context, being a centrepiece of the program with the IMF and the European Commission, Mugur Isarescu, the Governor of the National Bank of Romania, stated last Friday. 'A budget with a deficit of 5.9 per cent of GDP cannot be welcomed by a central bank… read more
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08 Feb 2010 Panic on the external capital markets pulls down the indexes on BSE by up to 4.26% at day-end The Bucharest Stock Exchange (BSE) ended week with massive drops on all indexes, of up to 4.26 percent on the SIF sector, as the U.S. capital market's collapse in the previous session made investors sell the shares to cash in profits. Liquidity rose to 53.46 million lei at day-end… read more
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08 Feb 2010 Romanian Bks Assoc Head: 2-3% Hike In '10 Pvt Lending Would Be Good After '09 Decline Romanian private lending was on downward trend in 2009 and an increase of 2% up to 3% in 2010 would be good news, the Romanian Banking Association ARB president Radu Ghetea told MEDIAFAX.Ghetea, who is also head of state-owned lender CEC Bank, said an increase of 2% up to 3% in private lending this year would be a great step forward… read more
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05 Feb 2010 Fitch Revises Outlook On 4 Romanian Banks Following Sovereign Action Fitch Ratings on Thursday revised four Romanian banks' outlooks to stable from negative following the similar action on Romania's sovereign rating earlier this week. Tuesday, Fitch revised Romania's outlook to stable from negative and affirmed the sovereign's Long-term foreign currency Issuer Default Rating (IDR) at 'BB+'… read more
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04 Feb 2010 BNR`s reference exchange rate falls to the past year minimum of 4.0805 lei/euro The reference exchange rate settled by the central lender BNR lowered 1.01 percent to 4.0805 lei per euro, the minimum level of the past year. Such a low level was last reported on January 7 2009, when the central bank posted an exchange rate of 4.0720 lei per euro… read more
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29 Jan 2010 Oxford Economics: BNR to cut key-interest to 5.5pc in 2010 Romanian Central Bank (BNR) will cut the key-interest rate from the current 7.5 per cent to 5.5 per cent by the end of this year, relaxation which will nevertheless be partly blotted out by the fiscal constraints implemented by the Government as part of its programme with the IMF… read more
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27 Jan 2010 BNR lends over RON 6 bln to banks The National Bank of Romania (BNR) conducted yesterday a repo-type operation in which it injected RON 6.066 bln into the interbank market, at an interest of 7.5 pc, equal to the monetary policy rate, Mediafax reports. The sum was borrowed by nine credit institutions and will mature in a week, on February 1st… read more
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22 Jan 2010 FinMin: Budget deficit stays 5.9 pct of GDP in 2010 The budget deficit stays 5.9 percent of the GDP and the change of this parameter is not approached during talks with the International Monetary Fund representatives, Finance Minister Sebastian Vladescu declared on Thursday, before the meeting with the delegation of the IMF, World Bank and the European Commission… read more
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19 Jan 2010 BNR: FDI harsh drop in November 2009 According to the data published by the National Bank of Romania (BNR) on Friday, the foreign direct investments (FDI) have dropped 900 per cent from EUR 975 M in November 2008 to EUR 105 M in November 2009. This is the most serious year-on-year FDI drop in the last 10 years… read more
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