“Our data show some of the state treasuries held by non-residents were sold, leading to a higher offer of lei and, implicitly to an increased demand for foreign currency,” Isarescu told reporters. “Preliminary figures indicate there were several billions of lei sold,” he added.
Moreover, some of the commercial banks have been failing to renew their credit lines inside the agreed deadlines, Isarescu said.
“This also creates difficulties regarding the financing of the current account deficit.”
The central bank’s chief said the lingering political tensions have taken their toll on the economy and urged for a resolution of the conflict between the government and President Traian Basescu.
Romania’s leu lost over 4.2% against the euro in July because of the political upheaval.
Earlier this week, the leu recovered some of the lost ground after a referendum on whether to impeach the President seemed to have failed because of low turnout. However, the country’s supreme court has postpone an official ruling on the matter and the leu has weakened again, trading at 4.63 per euro Thursday evening, from 4.59 to the euro a day earlier.