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Romania's President Traian Basescu: the national currency will gain ground in the upcoming period. May will be the best month for the Romanian currency

de A.C.
Miercuri, 25 martie 2009, 12:55 English | Top News

After the money from the foreign loan will enter the country, the depreciation of the national currency will be better controlled, Romania's President Traian Basescu declared. He added that the best period for the national currency will be May, when some 5 billion euro will be delivered in the Central Bank reserve.

Basescu explained that the Central Bank will supplement the reserves from the foreign loan. Commercial banks will have liquidity and interest rates might be decreased.

Basescu declared that banks will start financing the economy as soon as the money will enter the country. He declared that banks cannot be expected to finance the economy as long as 40% of the money are held in the Central Bank reserves.

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