Brexit causes difficulties for Romania’s financial market

Newsroom 27/06/2016 | 14:08

United Kindgom’s decision to exit the European Union after the Referendum on June 23 led to capital outflow, not only in state securities, but also in shares in Romania, according to reports.

“In this context, we can note the perception of risk on the romanian financial markets has intensified, which has led to capital outflows in shares and government securities,” said a report sent by Banca Transilvania on Monday.

On the monetary market the interest rates saw generalized growths, while at the same time, the yield curve has moved up (on average by 11 basis points): the interest rate on a 10-year maturity went up by 15 basis points at 3.71 percent (a maximum level since December 2015).

At the Romanian National Bank (BNR), the Euro/RON exchange rate rose by 0.41 percent, at 4.5366, whereas the USD/RON exchange rate raised at 2.69percent, equivalent of 4.0766. The stock market fell (the BET index fell by 3.5 percent), the turnover exceeding EUR 14.1 million.

Andreea Dulgheru

 

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