Briefing Romania
June 2024 auction in sight
EUR/RON
The Romanian leu closed the week remarkably stable in the same 4.7500-4.7600 range. It is likely that it will continue in a similar fashion as we move into the current week while at the same time becoming more of a buy-on-dips story.
Government bonds
Little to none action on the fixed income side, having only the primary auctions to spice-up the market these days. Today, the Ministry of Finance plans to sell RON500 million in June-2024. The market mood remains volatile due to Brexit uncertainties but we should see the auction filled around 3.85%.
Money market
After hitting the 1.50% deposit facility last week, funding rates should see a small uplift today following central bank deposit auction. Due to the auction’s inconvenient settlement dates which cover the budget payments period as well, we don’t expect much demand for it.
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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