The August trend ended the decline that started in May.
However, even though the data recently released by Romania’s central bank show the first upward trend since this spring, the volume of deposits made by non-residents is about EUR1 billion lower than in August 2014.
“The long-term deposits of non-residents fell over one year due to the interest rate decline. They went up 2% in August because of the greater turmoil on the emerging markets (some foreign investors have already directed capital to deposits on the Romanian market because of the lower risk perception of this country),” reads a report of Banca Transilvania by its senior economist Andrei Radulescu.
(English version by Loredana Fratila-Cristescu)