The three-month ROBOR index, which calculates the cost of consumer loans in ROL with variable interest rates, slightly decreased on the interbank market to 3.25 percent per annum from 3.27 percent on Tuesday, according to data published by the National Bank of Romania (BNR). This is the smallest value since beginning og July, when it was at 3.24 percent.

At the beginning of this year, ROBOR at 3 months was at 2.05 percent so today it is almost double in value.

As for the 6-month index used to calculate interest rates on variable-rate ROL mortgages, it stood at 3.43 percent.

Also at the same level as on Monday and 3.49 percent respectively, was ROBOR at 9 months, representing the interest rate paid on credits in lei drawn by commercial banks from other commercial banks.

The ROBOR 12-month index stagnated at the same value of 3.55 percent. ROBOR represents the average interest rate at which the Romanian banks borrow between them in lei.

The index is set daily as the arithmetic average of the quotes practiced by 10 banks selected by the National Bank of Romania.

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