TODAY’S NEWS
ECONOMY & COMPANIES
-Financial analysts part of CFA Romania association see the Romanian leu declining to an average exchange rate of 5.0528 units per euro in the next 12 months, while expect inflation to reach an average value of 8.13%, a one-year low. They also cut 2023 GDP growth forecast to 2.8%.
–Romania’s Finance Ministry raised RON3.7 billion from banks on Thursday (May 25), selling government paper maturing in 2038, at an annual average yield of 7.49%, the National Bank of Romania data showed.
–The assets of open-end investment funds distributed on the local market decreased by 21% at the end of March 2023 to RON 17.6 bln (EUR 3.5 bln) y-o-y, Ziarul Financiar reported citing Jan Pricop, executive director of the Association of Fund Managers (AAF).
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9578 | GBP 5.7177 |
| USD 4.6194 | CHF 4.0998 |
| BGN 2.5349 | MDL 0.2598 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 11.2% (April 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.68%, BET-TR -0.67%, BET-FI -0.17%, BET-NG -0.48%, BET-XT –0.56%, BETXT-TR –0.55%, BET-BK -0.38%, RO-TX -0.51%, BETAeRO -0.73% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in negative territory on Thursday in line with rest of markets in Europe after GDP numbers from Germany failed to reach estimates. In the first trimester, German GDP declined 0.3% quarter on quarter, with the economy entering a recession after a second consecutive fall. |
