BNR restores the foreign exchange reserve after spending a fortune to stop the depreciation of the lion
Mugur Isarescu: Photo: Inquam Photos / George Călin
In June, the NBR added over 2.6 billion euros to the Romanian reserves, after recently spent billions to stop the lion's strong depreciation, data published by the National Bank shows.
During June, 6.1 billion euros entered the reserve and 3.4 billion came out (representing the minimum reserves in foreign currency constituted by credit institutions at the NBR; rates and interest payments in the account of public debt in currency and others)
The level of the gold reserve remained at 103.6 tons. Under the conditions of the evolutions of international prices, its value located at 9.3 billion euros.
The international reserves of Romania (currencies plus gold) on June 30, 2025 were 67.62 billion euros, compared to 65.35 billion euros on May 31, 2025.
The payments due in July 2025 in the account of the public debt denominated in currency, direct or guaranteed by the Ministry of Finance, total about 476 million euros.
We remind that in December, the National Bank spent over 7 billion euros from the currency reserve, and in April another 6.66 billion, according to data published by the Central Bank. The BNR does not publicly comment on the frequency, nor the amounts with which it intervenes on the foreign exchange market to defend a certain level of the course, but the governor admitted that the lion is over-rated “with about 5%”.
The annual report recently published by the National Bank of Romania (BNR) shows a notable change in the Strategy for the Management of the Foreign Affairs, marking a reorientation to a significantly increased exposure on the US dollar, to the detriment of the euro and other currencies.
This strategic decision, together with a decrease in cash holdings, contributed to a remarkable profit of almost 4 billion lei in 2024, exceeding 1.4 billion lei the performance of the previous year.
