Romanians keep their savings in national currency. RON lending increased in November

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lRON-denominated household deposits added 1.0 percent to RON 83,113.0 million. At end-November 2014, household deposits in domestic currency rose by 4.9 percent (3.6 percent in real terms) against end-November 2013, National Bank of Romania (BNR) data showed.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) increased by 2.5 percent to RON 62,291.6 million. At end-November 2014, RON-denominated corporate deposits climbed by 11.7 percent (10.3 percent in real terms) year on year.

Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) stood 1.3 percent higher to RON 75,876.5 million when expressed in domestic currency (when expressed in EUR, forex deposits went up 1.0 percent to EUR 17,148.4 million). In year-on-year comparison, residents’ forex deposits expressed in RON advanced 2.4 percent (when expressed in EUR, residents’ forex deposits stood 2.8 percent higher); household forex deposits grew by 2.0 percent when expressed in domestic currency (when expressed in EUR, household forex deposits increased by 2.4 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) rose by 3.3 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities expanded by 3.7 percent).

The same central bank reported at end-November that broad money amounted to RON 249,308.4 million, up 1.9 percent (2.1 percent in real terms) month on month. In year-on-year comparison, broad money rose 6.1 percent (4.8 percent in real terms).

Last month non-government loans granted by credit institutions went down 0.1 percent (up 0.1 percent in real terms) from October 2014 to RON 213,665.7 million. RON-denominated loans increased by 0.5 percent (0.6 percent in real terms), whereas foreign currency-denominated loans fell by 0.5 percent when expressed in RON and by 0.7 percent when expressed in EUR. At end-November 2014, non-government loans decreased by 2.7 percent (down 4.0 percent in real terms) year on year, on the back of the 9.1 percent increase in RON-denominated loans (7.7 percent in real terms) and the 10.3 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 10.0 percent).

Government credit stood 2.9 percent higher in November 2014 at RON 82,412.8 million. At end- November 2014, government credit increased by 6.3 percent (4.9 percent in real terms) from the same year-ago period.

Deposits of non-government resident customers went up 1.5 percent month on month to RON 221,281.1 million in November 2014.

 

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