Romania
Briefing Romania
No-confidence vote day
Source: Reuters
EUR/RON
The 4.7450-4.7500 range for the EUR/RON broadly held yesterday amid increased turnover. With a no-confidence vote ahead we could see higher volatility.
ROMGBs
Romanian government bond yields inched a couple of basis points higher yesterday. The Ministry of Finance auctions RON300 million in September 31 bonds today, which is likely to see limited demand due to bad timing ahead of the no-confidence vote, despite wide spreads versus regional peers.
Money market
Cash rates remained unchanged just below the key rate level. The liquidity surplus for September stood at RON6.4 billion, up RON1.8 billion from the previous month.
Source: Reuters, ING
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This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
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