NBR governor Mugur Isărescu yesterday discussed the exchangerate for the second day running, continuing to reject the notion ofa depreciation, increasingly demanded by businesspeople in order tofuel an economic rebound. He argued that the NBR (central bank)needs to also keep an eye on banks' stability, leaving it entirelyin the hands of the Government to support the economy.
He said the exchange rate was almost an obsession with Romaniansand said those who venture to read into NBR's operations and onlyfocus on the exchange rate are wrong.
"There is no doubt in my mind that the exchange rate is almost anobsession with Romanians. The media is doing its job. But at leastthe messages should be accurate. Regardless of what I say here,they still focus on the exchange rate," Isărescu said.
Lately a series of opinions have emerged, voiced by bothbusinesspeople and analysts, demanding that the NBR cheapenRON-denominated loans even at the risk of a supplementarydepreciation of the exchange rate in order to help the economy.
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