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ROBOR rapid growth: The three-month index reaches 1.58pc. Interest rates up by nearly 50pc since Monday

3-month ROBOR Index continues upward race to 2.46pc

The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has increased to 2.46% on Thursday, up from 2.42% on Wednesday, according to the figures released by the National Bank of Romania (BNR). A similar value was registered on December 18, 2013, of 2.46%.

The fast upward growth of ROBOR is likely the result of high demand of cash in a period when the companies request the banks for additional funds to pay taxes and wages, April 25 being the peak from this point of view.

The 6-month ROBOR Index, used to calculate interest rates on mortgage loans, has increased from 2.54% to 2.57%. In early January the 6-month ROBOR Index was 2.05%, in the similar period in 2017 the index was 0.87%.

The 9-month ROBOR Index, representing the interest rate paid for the loans in RON attracted by the commercial banks from other commercial banks for a nine months period, is up to 2.62% from 2.60% a day before.

The 12-month ROBOR Index is up to 2.68% from the previous 2.65%.

ROBOR (Romanian Interbank Offer Rate) is the average interest rate for loans in national currency granted on the interbank market, and the increase of this indicator will lead to an increase of instalments for loans in national currency.

About Valeriu Lazar