The RON returned as the population's favourite currency for savings, after placements in euros were more in demand last year. Starting November last year, deposits in RON have increased faster than deposits in euros every month. Under the circumstances, the annualised growth rate of savings in RON accelerated to almost 40%, from 19% in December last year and 10% in September. Deposits in foreign currency saw faster growth, too, though a more modest one: the pace climbed from 36% in September last year, to a little over 50% in March. The gap between annualised rates for savings in RON and savings in foreign currencies narrowed to 10.6%, the lowest level seen since the beginning of 2006. Even with deposits in RON rising at a slower rate than those in euros, savings made in the Romanian currency remained dominant for deposits made by the population. The volume of deposits in RON stood at 33 billion RON (9.8 billion euros) at the end of March accounting for 65% in total savings.
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