BNR Exchange Rates
30.07.2010- 1 EUR
4.2471 RON - 1 USD
3.2679 RON - 1 CHF 3.1376 RON
- 1 GBP 5.0961 RON
BNR lends over RON 6 bln to banksUpdated: 27-01-2010 | Financial and Banking
The National Bank of Romania (BNR) conducted yesterday a repo-type operation in which it injected RON 6.066 bln into the interbank market, at an interest of 7.5 pc, equal to the monetary policy rate, Mediafax reports. The sum was borrowed by nine credit institutions and will mature in a week, on February 1st. Commercial banks yesterday announced interest rates of 7.45 - 7.95 pc for one-day deposits, more than twice the 3.17 - 3.67 pc they had announced Friday. Interest rates to one-week deposits remained unchanged at 7.7 - 8.2 pc.
"This is the first day of the reserve period, and interests significantly rose from Friday's values. However, the market does not urgently need cash, and the Central Bank's goal is to target the RON/EUR parity, because it considers RON as overvalued," a dealer explained. Furthermore, banks have higher cash demands these days, because the period when they must set up their mandatory cash reserves has just begun.
BNR conducted its previous repo operation on December 29, 2009 when it lent RON 9.472 bln to central banks, at an annual interest of 8 pc, equal to the monetary policy rate of that time. In repo (repurchasing) operations, BNR offers cash to commercial banks, against state bonds.
RON continues to appreciate
The European single currency slightly devaluated Sunday against the Romanian currency, as BNR announced a reference exchange rate of 4.1252 RON against an EUR, down 1.30 Ban (0.31 pc) from Friday's value of 4.1382 RON/EUR. The US Dollar too lost ground to the RON, with BNR announcing a reference exchange rate of 2.9079 RON/USD, down 1.76 Ban (0.6 pc) from the rate of 2.9255 RON/USD established during the previous trading session. Bullion was quoted Monday at 103.1615 RON for 1 gram of gold, up 13.54 Ban (0.13 pc) from Friday's level.
Latest News:
- IMF relation criticised
- Money from sale of minority stakes should be invested in infrastructure
- Minister Elena Udrea: Tourist brand emphasizes what Romania has most beautiful
- Romania can effectively manage migration flows at Schengen Space external border
- Economic activity expected to drop, prices to rise in Q3
- Romania wants another loan from the IMF. The state needs 13.5 billion Euro
- Survey: 41 pc of Romanians would vote Ceausescu for president
- IMF head: We are worried about Romania's low absorption rate of EU funds
- Romania may end up paying rationed salaries
- President Basescu asks Parliament to reexamine law on public-private partnerships
- Franks, IMF: Economic contraction of 3 pc this year, too pessimistic
- What it's like carrying 11 kilogram gold bars. An article from Romania's best guarded safe
- Companies with delays in implementation of European projects risk contract termination
- IMF backs Romania plan to relax 2010 deficit target
- Romanians working abroad, number two in Europe in sending money back home, after the Spanish
Most Popular News
- Three billion euros to be invested in energy private-public partnerships
- Romanian state plans to keep 8 pct of Petrom, at least
- IMF mission extends stay in Romania till May 9
- IMF, FinMin Vladescu discuss Government revenues collection
- Videanu admits that he is in conflict of interests in connection to Marmosim
- Greece gets 110 billion euros, biggest bailout in history
- BNR governor Mugur Isarescu: Situation is quite complicated
- Romanian-German meeting on fresh cooperation opportunities
- Gov't to earmark 6.4pc of GDP for investment
- FinMin Vladescu: Cutting 25pc off public wages pool will not generate needed savings
