TODAY’S NEWS
ECONOMY & COMPANIES
-Financial analysts part of CFA Romania estimate the local currency the leu will drop to an average exchange rate of 5.0274 units per euro in the next 12 months, while they see inflation hitting an average value of 8.96%. They also expect Romania’s economy to increase by 3% this year.
–Romania will be protected by the European Commission’s decision to stop imports of wheat, corn, rapeseed, sunflower and sunflower oil from Ukraine and will receive the appropriate amount to grant the respective money to farmers as soon as possible, regardless of whether or not the four countries lift the measures they have taken unilaterally, Agerpres reported citing Minister of Agriculture, Petre Daea.
-Investment fund Fondul Proprietatea (FP) requested the Bucharest Airports National Company (CNAB) to urgently finalize the tender for the concession of commercial spaces in Henri Coada Otopeni International Airport (AIHCB), which is already 10 months late.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9401 | GBP 5.5814 |
| USD 4.4743 | CHF 4.0278 |
| BGN 2.5258 | MDL 0.2482 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 14.53% (March 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.57%, BET-TR -0.57%, BET-FI -0.18%, BET-NG -0.54%, BET-XT –0.55%, BETXT-TR –0.55%, BET-BK -0.61%, RO-TX -0.47%, BETAeRO -0.15% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed lower on Wednesday, in line with rest of Europe where markets traded in the green. The downward trend is being driven strongly by resurgent concerns about the health of the global banking sector and the most recent season of corporate earnings. |
