Central Bank changes interest rates for US Dollars and RON

Miercuri, 19 martie 2008, 13:49 English | Business

The Romanian Central Bank (BNR) increased the interest rate for minimum obligatory reserves of commercial banks for the national currency (Romanian Leu - RON) and decreased the interest rates for obligatory reserves in US dollars, in an attempt to make RON loans more attractive.
The interest rate for RON deposits increased 0.45%, up to 3.05%, while the interest for US dollar reserves decreased 0.85%, to the same 3.05%.

According to BNR regulations, commercial banks must have reserves covering at least 40% of the foreign convertible currency passive assets and of at least 20% of the resources attracted in RON for less than 2 years, as well as for passive resources with anticipated refund clauses.