Swiss franc reaches a new historical high. BNR quoted it at RON 4.42

In Romania, Switzerland’s national coin traded on Friday at RON 4.4228/CHF, an increase by 2.2 percent, reaching a new high, while the euro jumped from RON 4.5034 to RON 4.5095. In its turn, the US dollar reached a new high of RON 3.8863.

This situation came to the attention of the Romanian authorities. Prime Minister Victor Ponta asked Finance Minister Darius Valcov to discuss with National Bank of Romania (BNR) officials about the situation created by the sharp rise of the Swiss franc against the euro and the national currency. “I asked the minister to discuss with BNR representatives and to propose measures,” said Ponta.

Central bank can not intervene on this situation, because the financial institution does not set the CHF-RON exchange rate, said Dan Suciu, BNR spokesman to Romania TV. He explained that the central bank can not ask for reimbursement rates to banks at a fixed an exchange rate or an exchange rate capping. Only the banks can do that. Suciu said BNR is concerned about this “delicate” situation and the solution, which central bank encouraged for a long time, is loans conversion to RON.

A possible solution for the clients with loans in Swiss francs is to restructure bank debts, Daniel Daianu, Member of BNR’s Board of Directors said to RFI.

Evolution of the Swiss franc is likely to throw most vulnerable debtors in the street, Liberal first deputy chairman Andreea Paul pointed out in a statement. She announced that the Liberals ask BNR management to be heard at the Budget, Finance and Banking Commission of the Chamber of Deputies.

„According to BNR, over 4 percent of Romanians rates are expressed in Swiss francs, while the total NPL rate is 15 percent. In this situation, I demand an urgently hearing of BNR representatives and of the governor Mugur Isarescu (…) for a point of view and concrete solutions to support the Romanians affected by this, in line with European rules and a healthy banking system,” Andreea Paul said, digi24.ro informs.

About 30 people protested on Thursday evening in front of central bank because of Swiss franc currency increasing . “We will organize next week to start the rallies. People enter into personal bankruptcy. They can no longer be able to pay their debts. We are going to make a list of requests” a protester said.