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May 16, 2022
BUSINESS

Central Bank’s foreign exchange reserves drop at EUR 31.6 billion

National Bank of Romania’s foreign exchange reserves stood at EUR 31,627 million, in June, compared to EUR 31,989 million on May 31st 2010, a press release informs. During the last month, there were EUR 792 million inflows, representing changes in the Ministry of Public Finances’ accounts, changes in the foreign exchange reserve requirements of the credit institutions, inflows into the European Commission’s account, income from the management of foreign exchange reserves. There were also EUR 1,154 million outflows, representing changes in the foreign exchange reserve requirements of the credit institutions, interest and principal payments on public and publicly guaranteed external debt. The gold stock has held steady at 103.7 tones. However, following the change in the international price of gold, its value amounted to EUR 3,372 million. The international reserves of Romania (foreign currencies and gold) on June 30th , 2010 stood at EUR 34,999 million, compared to EUR 35,251 million on May 31st 2010. During the month of July 2010, the payments due on public and publicly guaranteed external debt amount to EUR 876 million.


BNR: Higher interest for new RON loans in May


Compared to April, the average interest rate for new loans granted in lei in May was up by over 0.5 per cent at 11.69 per cent, pushed by the increase of the interest rate for new loans awarded to companies by 0.73 per cent at 11.66 per cent, according to BNR data, Mediafax informs. The average interest rate for existing loans in lei in May went up slightly to 14.26 per cent from 14.23 per cent in April, also sustained by the higher average rate for loans already contracted by companies from 12.23 per cent to 12.48 per cent. Nonetheless, compared to January, the average interest rate for corporate loans in lei, either existing in the balance or newly-awarded – decreased. The average rate for existing company loans in lei decreased from 15.57 per cent in January to 12.48 per cent in May. At the same time, the interest rate for loans taken out by legal persons dropped from 13.82 per cent to 11.66 per cent. In what regards retail loans in lei, the average interest rate followed the decreasing trend month after month this year. The average rate for retail loans in lei dropped from 17.06 per cent in January to 16.03 per cent in May – existing loans – and from 16.63 per cent to 11.8 per cent – new loans. The mean annual percentage rate for consumer loans in lei dropped from 21.78 per cent in January to 17.2 per cent in May, and the APR for home equity loans dropped from 13.63 per cent to 11.75 per cent.

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