Romania's central bank injects 1.37bn lei in the bank market
Publish date: 13-08-2008Romania's Central Bank (BNR) placed 1.37 billion lei in the first repo operation since last August, at an average interest rate of 11.69 percent, announced Narcis Noaghea, dealer of top Romanian lender by assets Banca Comerciala Romana (BCR).
Transactions mature on August 18. A number of ten banks participated in the operation. The maximum interest rate banks were willing to pay was 14 percent per year and the minimum rate at which money was placed, 10.25 percent.
"The participant banks were in need of liquidity, given the very high interest rates on the market," explained Noaghea.
BNR last made such an operation on August 23 last year, when it placed 500 million lei with a one-week maturity. Banks were then willing to pay interest rates between 6.50 and 7.50 percent per year.
The central bank posted today a reference exchange rate of 3.5570 lei against the euro, showing a 0.2 percent appreciation of the Romanian currency compared to the previous day.
NewsIn
Latest News:
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei