Help! question about Romania BNR exchange rate

Member since 28 July 2017

helloguilleMember28 July 2017 15:22:58

Why is the BNR official rate published for the RON, so important in Romania?

Everywhere I look for the exchange rates in Romania to the Euro, romanian websites display a "Curs BNR" rate.

I understand that this refers to the currency rate published by the National Bank of Romania. But: why is this BNR rate so important (compared to the normal "market" rate we can find in Google Finance)? Is this BNR rate used for a specific calculation at banking level?

mihai_s Member

Member since 28 July 2017

mihai_sMember28 July 2017 23:11:51

This is a reference calculated between 1 and 2 pm and generated by the euro/leu exchange rate on the local money market. The players are all authorized banks that adjust their currency needs or excess. It is particularly relevant in transactions with the state and local authorities and sometimes it is used in private transactions, but it is not obligatory.