“We are here to ensure economic stability, financial stability and price stability, including, in market conditions, the exchange rate stability. The (leu’s) exchange rate is set by the forex market. We are talking about a forex market stability and not fixing the currency rate,” Isarescu told a news conference.
The leu is currently close to the all-time lows touched last week, after the central bank on Thursday cut the key rate for the fourth consecutive time to a record low of 5.25%.
“We are not defending any exchange rate levels… The leu is in an equilibrium area,” Isarescu also said.
The governor reminded that the central bank has a managed floating regime, which addresses significant variations in the exchange rate.
“Don’t ask me what significant means. Significant is significant,” Isarescu said.