• Quick take
  • 21 August 2019
  • Romania

Briefing Romania

Quiet days again

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Authors

Valentin Tataru
Valentin Tataru

Chief Economist, Romania
Ciprian Dascalu
Ciprian Dascalu

Chief Economist, Romania

- Source: Reuters
Source: Reuters

EUR/RON

It’s difficult to get quieter trading than we've had in recent days in the EUR/RON. The pair looks pinned in a tight 20-30 pips range around 4.7300. We expect more of the same for today.

Government bonds

After the previous day's correction, ROMGBs traded broadly flat yesterday with just a touch of better buying interest. We don’t expect much action before tomorrow’s Feb-2029 auction which should garner strong interest.

Money market

Cash rates traded around 2.00% as the liquidity surplus persists. We should see the front end shifting lower due to the end of the reserve maintenance period.

- Source: Reuters, ING estimates
Source: Reuters, ING estimates

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