Romania’s 3-month ROBOR hits 6-week high

Romania’s three-month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, rose on Monday to 3.18 percent, the biggest level since September 5.

The 6-month ROBOR stood at 3.44 percent, the highest level since August 24.

Compared with the end of 2017, the 3-month index rose by 1.13 percentage point, from 2.05 percent.

Last Monday, National Bank of Romania did not inject liquidity into the money market through repo operations (government securities-backed lending to banks), a move designed to address liquidity shortage – and to cap interest rates in the market.

The 3-month ROBOR index reached a record low of 0.68 percent in September 2016.

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