"In spite of all the difficulty to evaluate what "hot money" means, we say there has not been much. Our assessment is that this did not exceed €3 million at the peak," said Isarescu in an interview.
The Governor's evaluation is similar to that of Cristian Popa, BNR's Vice Governor, who said at the beginning of May that the value of capital with "speculative potential" of non-residents which was placed in demand deposits in Romanian banks totaled some €2.5 bln by that date.
Isarescu mentioned that it is difficult to draw a definite line between short-term placed "hot money", and long-term investments, which are a sign that foreign investors are confident about the potential and stability of the Romanian market. (The Money Channel)
