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September 19, 2019

BNR slams accusations over fixing exchange rate for excise duties

The counselor to the governor of the National Bank of Romania (BNR) answered the accusations made by PSD spokesman Radu Moldovan, saying that these are mind-boggling accusations and, if he asked the party’s specialists, he would have felt embarrassed by the eccentric idea that the Central Bank rigged the exchange rate used in calculating excise duties, as the RON had one of the lowest devaluations of the region, Mediafax informs. The BNR official explained that, between September 10 and 30, massive devaluations of currencies took place throughout the European region that includes Romania, Poland, the Czech Republic and Hungary. According to Vasilescu, the most significant devaluation was that of the Polish zloty (10 pc), followed by the Hungarian forint (8 pc), while the Czech koruna – which had appreciated before September 10 – lost 2 percent points of the gain; meanwhile, the Romanian Leu (RON) devaluated by only 2 pc. As for the criticism voiced by Moldovan regarding the statements of BNR Director Eugen Radulescu, Vasilescu reminded that the Central Bank expresses its position exclusively through press releases issued by its Board of Directors, by BNR itself, or the voices of its governor, first deputy governor and deputy governors.

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