November in numbers

• November 1

- The National Bank of Romania announces that, as of October 31, 2024, foreign exchange reserves at the National Bank of Romania stood at 62,841 million euros, compared to 65,778 million euros on September 30, 2024. The level of the gold reserve remained at 103.6 tons. Given the evolution of international prices, its value stood at 8,520 million euros. Romania's international reserves (currency plus gold) as of October 31, 2024 were 71,361 million euros, compared to 73,663 million euros on September 30, 2024.

- The Swiss franc exchange rate reaches the lowest level of the month against our currency: 5.2774 lei, according to the National Bank of Romania.

- Euro - at the lowest exchange rate of the month against the leu: 4.9747 lei, according to the National Bank of Romania data.

• November 4

- The dollar - at the lowest rate of the month against our currency: 4.5640 lei, according to the NBR.

• November 8

- The Board of Directors of the National Bank of Romania decides the following: maintaining the monetary policy interest rate at 6.50%; maintaining the interest rate for the lending facility (Lombard) at 7.50% per annum and the interest rate for the deposit facility at 5.50% per annum;

maintaining the current levels of the minimum reserve requirements for liabilities in lei and foreign currency of credit institutions.

• November 13

- The National Bank of Romania announces that, in the period January-September 2024, the current account of the balance of payments recorded a deficit of 19,777 million euros, compared to 16,063 million euros in the period January-September 2023. In its structure, the balance of goods recorded a deficit higher by 2,840 million euros, the balance of services - a surplus lower by 1,342 million euros, the balance of primary income - a deficit lower by 66 million euros, and the balance of secondary income - a surplus higher by 402 million euros.

• November 14

- The Government supplements the budget of the Ministry of Health with 1.4 billion lei - budgetary credits, for the full payment, in December 2024, of medical materials and services.

- The gram of gold, quoted at the minimum level of the month: 387.3649 lei, according to the National Bank of Romania.

• November 21

- The Government approves the Industrial Strategy for the period 2024-2030, which provides for increasing the competitiveness of the industrial sector by adopting advanced technologies, promoting innovation and the transition to the circular economy, supporting industrial exports and the resilience of supply chains, as well as developing a qualified workforce and attracting investments in sectors with high added value.

- The Executive approves the Energy Strategy for the period 2025-2035, which aims to develop a sustainable, competitive and secure energy sector, aligned with the EU climate objectives.

- The Government supplements the budget of the Ministry of Labor and Social Solidarity with 1.6 billion lei, money used for the full payment of pensions in December 2024. The Executive also allocated approximately 1.6 billion lei to the same ministry for the payment of allowances, indemnities and social assistance.

• November 22

- The franc reaches its highest rate of the month against our currency: 5.3721 lei, according to NBR data.

- The dollar - at its highest rate of the month against our currency: 4.7742 lei, according to NBR.

- The gram of gold reaches its highest price of the month: 415.3204 lei, according to NBR.

• November 24

- The first round of the presidential elections takes place, placing the independent Călin Georgescu and the USR president, Elena Lasconi, in the first two places.

- Voters in Bucharest approve with over 66% of the votes the three administrative aspects proposed by referendum by Mayor General Nicuşor Dan: the distribution of financial resources between the City Hall and the Government, the granting of construction permits and the prevention of drug use in schools.

• November 26

- The Ministry of Public Finance informs that the budget deficit reached 109.42 billion lei (6.19% of GDP) in the first ten months of 2024, from 62.81 billion lei (3.91% of GDP) in the same period in 2023.

- The National Bank of Romania announces that broad money supply (M3) recorded, at the end of October 2024, a balance of 707,036.6 million lei. This increased by 1.3% (0.6% in real terms) compared to September 2024, and compared to October 2023 it increased by 10.3% (5.4% in real terms).

• November 27

- The Government approves the increase in the gross minimum wage in the country, which will increase from January 1, 2025 from 3,700 lei to 4,050 lei. This measure would benefit over 1.8 million employees.

- The Executive adopts a government decision on the approval of the National Strategy for the Defense Industry 2024-2030, which provides for the development of a resilient industrial ecosystem for the defense industry, emphasizing modernization and international cooperation.

- The Government approves the National Market Surveillance Strategy 2024-2027, which aims at the conformity of products sold on the market, consumer protection and the elimination of non-compliant practices. Through it, a National Contact Point for the RAPEX rapid alert system will be created, measures will be implemented to streamline controls throughout the distribution chain, which will lead to a reduction in the number of non-compliant products on the market in our country.

• November 28

- The Supreme Council for National Defense (CSAT) meets, noting that there were cyber attacks aimed at influencing the fairness of the November 24 electoral process. The CSAT members asked the authorities with responsibilities in the field of national security, those with responsibilities in the proper conduct of the electoral process, as well as criminal investigation bodies to urgently take the necessary steps, according to their legal competences, to clarify the issues presented at the meeting.

• November 29

- The euro reaches its highest exchange rate of the month against the leu: 4.9771 lei, according to NBR figures.

- The BET index, of the 20 most liquid stocks on the Bucharest Stock Exchange (BVB), depreciated by 6.3% in November, to 16,345 points, while the BET-BK index, the benchmark for the performance of equity investment funds, fell by 7.5%, to 3,016 points, amid developments on the political scene.

- The BET-XT composite index, of the 30 most liquid companies on our market, depreciated by 6.2%, to 1,408 points, while the BET-NG index, of energy and utility companies, fell by almost 4.1%, to 1,176 points.

- Nuclearelectrica shares fell by almost 7% last month, with the company reporting a 36% drop in third-quarter profit.

- OMV Petrom shares fell by 3.5%. The oil and gas producer reported a 37.2% drop in operating profit.

- Transgaz shares fell by almost 7% in November, Transelectrica shares fell by 5.2%, and Electrica shares fell by 3.1%.

- Banca Transilvania shares fell by 6.5% last month, BRD-Groupe Societe Generale shares fell by 11.4%.

- Danube freight carrier Transport Trade Services shares fell by 38.5%, after the company reported a quarterly loss of 7.9 million lei.

- The BET-FI index, of former SIFs plus Fondul Proprietatea, had a 3.3% decline last month, the smallest depreciation among the BVB stock baskets.