euro

The eurozone central bank summarized the results of Friday’s Jan. 30 meeting at which it cut three benchmark interest rates by 0.25 p.p., as the consensus forecast of economists suggested, adding pressure on the Euro, Logos Press reported.

The euro has reached a new all-time high against the dollar, confirming the recovery of its positions amid the deteriorating position of the U.S. currency, reports the press.

In the structure of net supply of foreign currency from individuals, the main share still belongs to the single European currency (74.7%), according to Logos Press.

The decline in official foreign currency receipts to the population from abroad, despite the cheapening of remittances, has affected the situation on the cash foreign exchange market: sales have been declining for four months, – reports Logos Press.

In November, the state’s foreign exchange reserves fell by another 60.56 million euros to 5,080.87 million euros as a result of foreign debt repayments and monetary policy easing, Logos Press reported.

The demand and supply of currency, supported by remittances from abroad, remained balanced in August, and the National Bank did not intervene in the domestic foreign exchange market, Logos Press reported.

In April, the total public debt continued its growth, amounting to 123 billion lei (+16% in annual terms). In relation to GDP, it amounted to 35%, compared to 32.8% a year earlier,” Logos Press reported.