BUSINESS

Twelve banks borrowed RON 6 bln from BNR

The National Bank of Romania (BNR) on Monday lent RON 6 bln (1.3 bln euro) to 12 banks via a repo operation, with the banks bidding up to an all-time high of RON 21.4 bln since 2001, when records began, Mediafax reports. The amount however was again capped at RON 6 bln, after the central bank last week capped financing amid an increase to over 4.59 RON/euro of the RON/euro exchange rate on the inter-banking market.  Last August, BNR capped the amounts lent at all four monthly operations, a first since 2008, with the RON partially benefitting from the decision, as the interest charged by banks rose slightly.  Also, the Ministry of  Public Finance (MFP) borrowed 625 M RON Monday through 11 month maturity   certificates, below the indicative value and at an average yield of 6.08 pc, up a tiny bit from the 6.02 pc paid at the auction a week ago.

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