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Isarescu : We don’t have to take into consideration changes up to 3-4% of the exchange rate

Changes of up to 3-4% of the exchange rate do not need to be taken into consideration and it should not be evident in prices, the BNR governor Mugur Isarescu said.

Asked if the appreciation of the leu is justified by an economic basis Isarescu answered that changes of up to 3-4% of the rate should not be taken into consideration.

At the same time he showed that the leu appreciation calms down the anticipations according to which the national currency could go down or discourage the people who spoke about the depreciation as a justification for price increases.

« Otherwise, changes of 1-2% of the rate should not be seen in prices. I think that prices in Romania will be more independent against external evolutions » Isarescu said.

The leu appreciated this year by 1.3% against the euro. The annual exhange rate of BNR of 4.2016 lei/euro was the lowest level at the beginning of the month of June last year.

Governor of the National Bank of Romania (BNR) Mugur Isarescu on Friday was awarded France's National Order of the Legion of Honour in rank of Officer.The award ceremony, hosted by the French Embassy in Bucharest and French ambassador Henri Paul, was held at the ambassador's residence in Bucharest in the presence of many personalities.The order is given in recognition of Isarescu's personal merits, his economic activity and good economic governance.

'By awarding this medal, the French President wanted to acknowledge not only your personal merits and a brilliant career to the service of Romania, but also the importance he attaches to good economic governance, of which you are the epitome here in Romania, for the improvement of Romanian-French relations,' said Henri Paul. In his turn, Isarescu said he is honoured by the distinction.

'I am honoured by the distinction from France's President Nicolas Sarkozy. So far as I understand, the order is awarded not just for my activity, but also for the good monetary policy of the National Bank that helped Romania whether the crisis well,' said Isarescu.

Also attending the award ceremony were actors Radu Beligan and Ion Caramitru, former Prime Minister of Romania Radu Vasile, former tennis player Ilie Nastase, former Finance Minister Daniel Daianu and former Foreign Minister Teodor Melescanu.

The order awarded on Friday to Isarescu is the highest civilian and military distinction of France, established in 1802 by Napoleon Bonaparte. Two years ago, the French ambassador in Bucharest awarded former tennis player Ilie Nastase France's National Order of the Legion of Honour in rank of Knight.

Sursa: http://www.actmedia.eu

Tags: order french former romania national isarescu consideration changes bnr euro

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