The cash in circulation in Romania reached RON 63.4 billion (EUR 17.3 billion) at the end of December 2017, up by 16% compared to the end of 2016, according to data from Romania’s National Bank (BNR).

The narrow money, which includes cash and overnight deposits, stood at RON 210.7 billion (EUR 57.6 billion), up 17% year-on-year. Broad money, which also includes deposits with maturities of up to 2 years and other marketable securities, reached RON 350.6 billion (EUR 75 billion), up 11.6% compared to end-December 2016.

The cash in the economy has registered 2-figure growth rates almost every year in the last decade.

Romanian banks had total deposits from non-government resident customers worth RON 320.8 billion (EUR 68.6 billion), at the end of 2017, up 10.4% over the previous year. Deposits in foreign currencies and corporate deposits grew faster than those in local currency and those of households.

The total loans granted by local banks reached RON 232.3 billion (EUR 50 billion), up 5.6% year-on-year. Loans in local currency went up by 15.8% while those in foreign currencies dropped by 8.1%.

editor@romania-insider.com