Romanian Central Bank governor wishes national currency “long life”

08 July 2015

Ten years after Romania removed four zeros from its national currency leu, the Central Bank governor Mugur Isarescu wished the leu a long life.

In July 2005, the country unveiled a new set of notes and coins, in order to say goodbye to a long inflationist period. Back then, Isarescu wished the leu a healthy life, hinting to a future adoption of the euro. Romania planned to adopt the euro by 2015, then postponed the date by 2019.

However, the financial crisis has changed many of the paradigms related to euro adoption. Isarescu said on July 7 that Romania could still have the leu as national currency 10 years from now, considering what is now happening in the Eurozone with Greece, reports local Ziarul Financiar.

In 2005, deposits in lei represented 55% of the total bank deposits, whereas now they represent two-thirds, according to the Romanian National Bank.

editor@romania-insider.com

Normal

Romanian Central Bank governor wishes national currency “long life”

08 July 2015

Ten years after Romania removed four zeros from its national currency leu, the Central Bank governor Mugur Isarescu wished the leu a long life.

In July 2005, the country unveiled a new set of notes and coins, in order to say goodbye to a long inflationist period. Back then, Isarescu wished the leu a healthy life, hinting to a future adoption of the euro. Romania planned to adopt the euro by 2015, then postponed the date by 2019.

However, the financial crisis has changed many of the paradigms related to euro adoption. Isarescu said on July 7 that Romania could still have the leu as national currency 10 years from now, considering what is now happening in the Eurozone with Greece, reports local Ziarul Financiar.

In 2005, deposits in lei represented 55% of the total bank deposits, whereas now they represent two-thirds, according to the Romanian National Bank.

editor@romania-insider.com

Normal
 

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