BNR’s Georgescu: BNR has necessary forex reserves to intervene on exchange rates

The National Bank of Romania (BNR) has the necessary forex reserves to step in if speculative activities destabilising the exchange rates emerge, BNR Deputy First Governor Florin Georgescu said on Tuesday.

‘If the world or local players resort to speculative activities that are able to generate distortions, BNR has the necessary forex reserves to intervene in order to stabilise the developments in the forex market,’ said Georgescu. He also said that the BNR market interventions have so far been conducted at a a normal pace. ‘BNR has reported a normal pace of activity. Current fluctuations are within normal limits,’ said Georgescu.

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