The population's appetite for credits in exotic currencies remains high, despite the repeated warnings issued by the NBR (National Bank of Romania). The volume of consumer and mortgage credits in currencies other than RON and euro denominations, leaped by over 10% in March, and exceeded a sum equivalent to two billion euros, according to data released by the central bank. The Swiss franc is the main currency used by banks for lending, after the euro and the RON, given the low demand for lending in dollars and other foreign currencies, at least in the case of lending for the population. The bulk of credits in exotic currencies are consumer credits, which amounted to a volume equivalent to 5.5 billion RON (1.5 billion euros) at the end of March. However, the volume of mortgage funding stood at no more than 2.45 billion RON (656 million euros). Nonetheless, NBR data could present a distorted picture, as they include in the consumer credit category those credits with real estate properties pledged as collateral, which have a high value, and are frequently used to buy homes.
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