Romania’s foreign exchange reserves increased to €67bn at the end of March 2026, some €2bn up from €65bn a month earlier, according to data published by the National Bank of Romania (BNR).

The net increase was supported by inflows from foreign currency bond issuances, which totalled €3bn and $1.73bn, roughly a total of €4.5bn during the month. These were partly offset by public debt service payments of €638mn.

The remaining difference suggests additional net outflows of around €1.86bn, which analysts attribute largely to central bank interventions in the foreign exchange market aimed at supporting the Romanian leu, according to analysis cited by Profit.

The calculations do not take into account potential changes in the Ministry of Finance’s foreign currency holdings at the central bank, including funds received from the European Union under the Recovery and Resilience Facility and the Multiannual Financial Framework.

Market analysts noted that the leu has faced pressure in recent weeks, in line with other regional currencies, amid heightened risk aversion linked to the conflict in the Middle East and the associated energy crisis. However, unlike peers such as the Hungarian forint, which has seen significant daily volatility, the leu has remained relatively stable.

ING analysts previously said the central bank had conducted “significant” interventions to stabilise the exchange rate during this period.