Speaking in a press conference, Georgescu said Romania has a healthy economy, with predictable evolutions, and that the leu’s depreciation is in line with the developments in the region.
“Certain external events, particularly the situation in Greece, had some investors worried and they’ve decided to relocate their business outside the region. Nonetheless, things are under control,” Georgescu said.
He added the central bank governor was right in dismissing speculations of a potential depreciation of the leu to 5 units against the euro.
Governor Mugur Isarescu Tuesday discarded recent predictions from local analysts that the euro would strengthen to RON5 if Greece were to exit the eurozone, hinting that the bank will not allow the leu’s weakening.
The national currency fell to historic lows against the euro in May, hurt by a government collapse early in the month and amid a negative sentiment in the region caused by uncertainty in Greece and lower-than-expected economic developments in the eurozone.
The leu’s official exchange rate lost around 1.6% versus the euro in May to an all-time low of 4.4662 units. Since January, the national currency has weakened 3.4%.
Wednesday, the central bank set the leu’s reference at 4.4642 to the euro, modestly stronger on the day.