Romanian investor: The euro should be trading over RON 5

Romanian investor Viorel Catarama, who owns furniture producer and retailer Elvila, said on Thursday that the euro should be trading at RON 5.3-5.4 and accused Romania’s National Bank (BNR) of artificially keeping the exchange rate at a lower level. He says that the artificial salary increases have led to price increases, which aren’t fully reflected by the inflation rate due to the cheap imports. “We have a gang that I would call criminal of communists at Romania’s National Bank, who follow the orders of the socialists in PSD-ALDE, and keeps the exchange rate at a level that doesn’t reflect reality. Thus, BNR, through its policy, encourages imports, makes Romanian dependent on imports, kills production, kills exports, kills the private sector. Everything has become more expensive in Romania, only the euro hasn’t,” Catarama said on the occasion of his company’s listing on the Bucharest Stock Exchange, local Mediafax reported. BNR spokesman Dan Suciu replied that Catarama’s statements were political, as he is a member of the opposition National Liberal Party (PNL). “As a liberal, Viorel Catarama should know that the exchange rate’s evolution is determined by the market,” Suciu said. editor@romania-insider.com