Interest Rates in Romania
The National Bank of Romania (BNR) announced yesterday that the average level of the overnight deposit interest rate (ROBOR) has decreased to 5.77%, down from 5.78% in the previous session. The interest rate for one-day deposits (ROBID) has also dropped to 5.48%, from 5.49%. The 3-month ROBOR index remained unchanged at 5.81%, while the 6-month ROBOR stood at 5.87%.
Introduction of the IRCC
BNR recently released the quarterly benchmark index for consumer loans (IRCC), which has replaced ROBOR in the calculation of interest rates for most loans in Romanian Lei. The value for the first quarter of 2024 is set at 5.86%. This change aims to provide more stability and transparency in the lending market.
