National Bank of Romania Governor Mugur Isarescu chose to personally take over supervision of forex and monetary market operations. From this position, Isarescu will directly supervise exchange rate interventions, cash injections on the money market, as well as the management of the over 28 billion-euro foreign exchange reserve and the placement of the almost 104 tonnes of gold that the NBR owns. Isarescu, now at his fourth term as governor, is specializes in exchange rate policies, having written a doctoral paper on the subject in 1989. Last autumn, during the attack of the foreign speculators against the RON, Isarescu personally oversaw NBR’s exchange rate interventions. Romania plans to adopt the Euro in 2015.