The National Bank of Romania (BNR) updated the value of international currencies on Friday, September 22, 2023, at 1:00 p.m. According to the new forecast, the euro reached 4.96 lei (negative variation). What the governor of the institution, Mugur Isărescu, says about inflation in relation to salary increases.
Exchange rate, September 22, 2023
The BNR issued a new exchange rate on Friday, September 22, 2023. The representatives of the banking institution publish every working day information on the evolution of the euro, the dollar, as well as the Russian ruble, given the current economic-geo-political circumstances.
Here’s how the currencies in international circulation evolved, according to the updated data on Friday, September 22, at 13:00!
BNR exchange rate September 22, 2023: euro
1 euro = 4.9675 lei (-0.0032; -0.06%)
One euro has the exchange rate presented at the value of 4.9675 lei, along with a negative variation of (-0.0032 lei).
BNR exchange rate September 22, 2023: dollar
1 dollar = 4.6709 lei (+0.0071; +0.15%)
One dollar has the exchange rate shown at 4.6709 lei, along with a positive variation of (+0.0071 lei).
BNR exchange rate September 22, 2023: British pound
1 pound sterling = 5.7709 lei
NBR exchange rate September 22, 2023: Russian ruble
1 Russian ruble = 0.0483 lei
Mugur Isărescu, about inflation
In another vein, in August 2023, the governor of the National Bank of Romania, Mugur Isărescu, spoke about the inflation situation in relation to salary increases in Romania. According to the official, we must prepare for an increase in inflation due to increases in the incomes of employees.
The information presented by the BNR governor came even before the leaders of the governing coalition announced that, starting from October 1, 2023, the minimum wage in the economy will increase to the amount of 3,300 lei, and tax facilities in construction, agriculture and IT will be eliminated .
Mugur Isărescu also stated that it is possible for inflation to reach higher rates in Romania due to the fact that it is influenced by the service sectors. We have seen economic growth, but it is still weak for 2023. Consumption has also increased to the surprise of analysts.
Moreover, inflation is falling in line with previous forecasts, the BNR governor stated.
“We didn’t say that if they raise taxes, inflation increases. Not all lead to increased inflation. Only the increase in VAT and excise duties could increase inflation. I repeat that we could have lower inflation. Some colleagues do not believe.
You might also be interested in: What taxes and fees will Romanians pay from October 1, 2023 and January 1, 2024. The fiscal measures established by the country’s officials
We are also told that we could tighten the screw harder and bring inflation down. It was uncertain that if we did that it would come down, but we had one certainty – inflation would come”, declared the governor of the BNR, Mugur Isărescu, in August.