The euro is becoming ever more appealing not only for loans,owing to lower interest rates, but also for deposits, because ofuncertainty related to the exchange rate.
Foreign currency deposits have continued to rise in recentmonths, even though the annual pace has cooled down to 13% inAugust, from 17-18% in spring, while the population's RON savingsannually dropped by around 3.8% in July and August, not includinginflation impact.
Beyond the fact that the rising prices and falling incomes haveleft less money for savings in Romanians' pockets, the still upwardtrend of euro and dollar-denominated deposited sums also indicatesa possibly weakening trust in the domestic currency, consideringthe exchange rate is still exposed to political scene tensions andthe fallout of the Government's stammering fiscal and economicpolicy.
The population's RON deposit volume dropped by 400m RON in July andAugust, to 61.7bn RON, while FX deposits in the same periodadvanced by the equivalent of 390m euros, to almost 9.7bneuros.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
