A draft law requiring merchants in Romania to use the official exchange rate of the National Bank of Romania (BNR) when issuing invoices denominated in euros has passed the Senate, USR deputy Cezar Drăgoescu announced.

The Chamber of Deputies, which is the decision-making body in the legislative process, must still approve the bill before it can become law.

“Enough with invoices in euros at invented exchange rates. My bill, submitted a month ago, which obliges all merchants who invoice in euros to do so strictly at the NBR exchange rate, passed with 73 votes in favour in the Senate,” Drăgoescu said, as reported by Ziarul Financiar.

According to the lawmaker, the measure is intended to protect consumers from additional costs generated by exchange rates set independently by merchants.

Under the proposed legislation, companies issuing invoices in euros would be required to apply the official BNR exchange rate from the day before the invoice is issued. The bill would affect a broad range of transactions, including mobile phone subscriptions, property purchases, vehicle sales, and tourism services.

“From purchasing a mobile phone subscription to purchasing a home, car, or vacation, no merchant will be able to come up with their own exchange rates, margins, or other hidden commissions,” Drăgoescu said.

The initiative comes amid growing scrutiny in Romania over commercial practices linked to exchange rate conversions, particularly in sectors where prices are commonly expressed in euros despite payments being made in Romanian lei.

Romania is not part of the eurozone, although the euro is widely used as a reference currency in contracts and pricing for real estate, automotive sales, and some services.

iulian@romania-insider.com

(Photo source: Romolo Tavani/Dreamstime.com)