The National Bank of Romania (BNR) has withdrawn liquidity from the market after capital inflows decreased and outflows rose significantly, which led to an increase in interest rates, BNR spokesperson Dan Suciu told AGERPRES on Monday.
„Recently, there has been a significant shift in the foreign exchange market. Capital inflows have declined, while outflows have increased substantially. As a result, to temper these movements, liquidity had to be withdrawn from the market, and interest rates increased. The BNR will seek an optimal balance for this situation,” explained Dan Suciu.
The 3-month ROBOR index, which is used to calculate the cost of RON-denominated consumer loans with variable interest rates, rose on Tuesday to 6.08% per year, from 5.90% in the previous session, according to data published by the BNR.
The 6-month index, used for calculating interest on RON-denominated mortgage loans with variable interest, increased to 6.16% from 6.00% on Monday, while the 12-month ROBOR rose to 6.23% from 6.09%.
AGERPRES