3-month ROBOR Index down to 3.16%, lowest level in seven weeks

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The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has decreased on Tuesday to 3.16%, down from 3.20% in the previous session, according to the figures released by the National Bank of Romania (BNR). It is the lowest level since October 9.

Early this year the index was 2.05%.

The 6-month ROBOR Index, considered in order to calculate interest rates on mortgage loans, has decreased to 3.41%, the lowest level since October 16.

The downward trend follows the move made by BNR in Monday to inject on the banking market RON 10.234 billion, in a repo operation due in 7 days, with an interest of 2.5% per annum, the same level as the key interest rate.

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.

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