Romania's central lender pumps lei 5.53bn through one-month repo operation

Romania's central lender BNR injected 5.529 billion lei (1.3 billion euros) on the banking market through a repo operation maturing on August 28, at an interest rate equal to the key rate of 9 percent per year, a banking dealer declared for NewsIn.

Some 14 lenders participated in the operation.

The BNR bid came as on July 27 some 5.923 billion lei exit the market after the previous one-month repo operations reached maturity. Monday was also the maturity date for a reverse repo of BNR one week ago, but the deposit amount that entered the market only stood at 219.2 milllion lei.

At the last repo operation on July 13, the central lender pumped 2.539 billion lei at one month, for an average interest rate of 9 percent per year, the same as the benchmark rate.

BNR injected in June some 15.72 billion lei on the market through four repo operations at one month and in May it introduced 10.4 billion lei at an interest rate equal to the monetary policy rate, the operations also maturing in one month.

After today's bid, interbank interests for overnight deposits slipped from 9.5 – 9.75 percent per year to 8.75 - 9.25 percent, framing the monetary policy rate of 9 percent.

BNR today posted an average interbank bid rate (ROBID) of 9.40 percent a year, up from 9.32 percent in the previous session and an interbank offer rate for overnight deposits (ROBOR) of 9.90 percent, versus the previous 9.82 percent.


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