Interest for Romanian retail bonds rises but shifts towards foreign currency

The Romanian retail investors placed RON 537 million in local currency and EUR 223 million (over RON 1.1 billion) in euros under the June 2025 issue of the Government’s bond scheme Fidelis, resulting in a total of approximately RON 1.65 billion, according to data aggregated by Ziarul Financiar.

The retail investors thus returned after the political turmoil, but their interest shifted towards foreign currency bonds, reflecting investors’ caution regarding the possible weakening of the currency.

For comparison, in the previous issue in May, the state attracted RON 1.2 billion, in April approximately RON 1.3 billion, in March approximately RON 2.2 billion, and in February, a record of RON 4.3 billion.

Regarding the euro-denominated bonds, subscriptions were EUR 75 million for the two-year tranche at an interest rate of 3.9% per annum, EUR 22 million for the five-year tranche with an interest rate of 5.6%, and EUR 124 million for the seven-year tranche at an annual yield of 6.5%.

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