Senate Allows Government To Issue Ordinances During Summer Recess
Romania’s Senate on Monday adopted a bill authorizing the Government to issue ordinances during the summer parliament recess.
Senators voted 68 to 27 and one abstention to adopt the bill which lets the Cabinet issue ordinances in fields that don’t require organic laws.The Government may issue ordinances in the fields of public finance and economy, agriculture and rural development, transport and infrastructure, regional development and tourism, administration and interior affairs, culture, public procurement, and EU funding. The bill still needs to be adopted by the Chamber of Deputies to become law. (romanialibera.ro) Romania Forex Reserves Fall To EUR33.12B In May
Romania’s foreign exchange reserves fell to EUR33.12 billion end-May 2018, from EUR33.53 billion at the end of April, central bank data showed Monday.
The country had foreign currency inflows of EUR2.18 billion and outflows of EUR2.6 billion in May, the data showed. In April, the country paid an installment of EUR1.2 billion of a 2009 loan from the European Commission, the central bank said.
Romania’s gold reserve remained steady at 103.7 metric tons and its value adjusted for international gold price stood at EUR3.71 billion at the end of May.
Overall international reserves stood at EUR36.84 billion end-May 2018, from EUR37.16 billion end-April 2018.
Payments due on public and publicly guaranteed external debt in June 2018 amount to nearly EUR1.69 billion. (cotidianul.ro)
Three-Month ROBOR Hits Four-Year High Of 2.85%
The three-month ROBOR index, used to calculate interests on loans in lei with variable interest, grew to 2.85% on Monday, from 2.83% last Friday, reaching the highest level since 2014, central bank data show.
The six-month ROBOR index, which is used to calculate interests on leu-denominated mortgage loans, advanced to 2.96% on Monday, from 2.94% previously.
The nine-month ROBOR index, which is used to calculate interests on loans in lei attracted by commercial banks from other commercial banks for a nine-month period, grew to 3.02%, from 3.00%.
The twelve-month ROBOR index surged to 3.07% on Monday, from 3.05%. (jurnalul.ro)
Leu Depreciates Vs Euro, Exchange Rate At 4.6566
The Romanian leu lost ground against the euro by midday Monday and the central bank set the leu’s reference rate versus the euro at 4.6566, down 0.17% compared with the previous day when it touched 4.6485 against the euro.
The leu, however, appreciated against the US dollar, reaching a rate of 3.9713 to the dollar, up 0.05% compared with last Thursday’s trading of 3.9734 to the dollar. (romanialibera.ro)