TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9293 | GBP 5.5610 |
| USD 4.6894 | CHF 5.9914 |
| BGN 2.5203 | MDL 0.2422 |
BNR INTEREST RATES
| Deposit facility: | 5.75% |
| Policy rate: | 6.75% |
| Lending facility: | 7.75% |
INFLATION RATE
| 16.76% (Nov. 2022) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.28%, BET-TR -0.28%, BET-FI -0.39%, BET-NG -0.91%, BET-XT -0.30%, BETXT-TR -0.30%, BET-BK -0.15%, RO-TX -0.37%, BETAeRO -0.22% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks headed into the weekend lower bucking the trend across Europe where markets clocked their best week since November as investors drew optimism from preliminary data on the region’s inflation that could potentially signal weaker monetary tightening by the European Central Bank in the upcoming period. BET, the main index of the 20 most liquid companies at the Bucharest Stock Exchange (BVB), ended 2022 with a decline of 10.7%. |
TODAY’S NEWS
POLITICS
11:09 In 2022, Romania’s President Klaus Iohannis received gifts free of charge, as protocol, worth a total of RON 23,000 (EUR 4,753), according to the Presidential Administration.
09:02 Schools will be reopened on January 9, according to the schedule, the minister of Education, Ligia Deca, said on Thursday, adding that non-attendance of courses is not encouraged.
08:59 Health Minister Alexandru Rafila said on Thursday that the peak of the flu season is likely to occur between January 15 and February 10.
ECONOMY
13:22 Industrial production prices increased by 44.8% in Romania in November of 2022 y-o-y, placing the country third in the European Union, with higher increases recorded only in Hungary (63.5%) and Latvia (51.2%), Eurostat data showed.
12:59 Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, ended the week at 7.48% y-o-y, National Bank of Romania data showed.
11:14 Romania’s Finance Ministry seeks to raise USD$9 billion by tapping international markets this year with US dollar-denominated bond issues, maturing in five, ten and thirty years, respectively.
COMPANIES & BUSINESS
14:28 The Board of Directors of Romania’s flag carrier and oldest currently operating airline in the country, Tarom has appointed Costin Iordache to the position of interim Chief Executive Officer (CEO), according to a press statement.
14:12 German retailer Kaufland will open at least ten new stores and remodel ten others in 2023 in Romania, thus continuing at the same pace as in the last three years, Kaufland Romania and Moldova CEO Marco Hoessl told Ziarul Financiar.
12:30 American multinational aerospace and defense conglomerate Raytheon was awarded a $208 million contract to arm Black Sea state and NATO member Romania with mobile coastal anti-ship missile batteries, the Pentagon announced in a Thursday contract statement.
SOCIAL
12:47 More than 147,000 people exited Romania on Thursday (Jan. 5), through the border crossing points, according to the General Inspectorate of the Border Police (IGPF).
MORE NEWS FROM ROMANIA
CLUJ-NAPOCA
Vacation rental marketplace HomeToGo has unveiled its Workation Index 2023, ranking the Romanian cities of Cluj-Napoca and Bucharest among the top 20 best destinations in Europe for a remote work adventure. The city of Cluj-Napoca in Transilvania and Romania’s capital Bucharest have been placed 17th and 19th, respectively, in the ranking of more than 150 destinations.
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