Situation in Greece poses great danger, yet we're prepared to manage any risk (BNR governor)

The situation in Greece is a great danger and it should be considered by Romania too, yet the National Bank of Romania (BNR) has the necessary tools to manage eventual risks, on Wednesday said the central banks' governor, Mugur Isarescu in a press conference.

Photo credit: (c) Sorin LUPSA / AGERPRES ARCHIVE

He deems that the national currency, the leu, even if reacts to external factors and not only, has not depreciated.

'As for Greece, there is a great danger! It should be considered by Romania, too. We, at the National Bank are already considering it. I don't believe it would happen, yet the risk exists and we are preparing to manage any kind of risk. Practically, we have no instrument blocked, unlike other central banks,' Isarescu explained.

Referring to the national currency's situation lately, the BNR governor said we haven't assisted to a depreciation, but to a slash of the appreciation. He added that at central bank's level, the national currency's area of stability is the one of the past year, and a 5-percentage points' variation is not an appreciation or depreciation of the national currency. 

The BNR governor reminded that the central bank has no central rate, no parities and doesn't assume to maintain the exchange rate within certain margins.

'The rate goes where the market is leading it. The National Bank only intervenes if imbalances due to emotional factors occur,' Mugur Isarescu added.AGERPRES.