The Romanian Central Bank (BNR) fueled the monetary market in the country with the equivalent in Romanian currency of around EUR 539 million through repo. Romanian banks have taken advantage of BNR's offer to buy back securities though the seven-day repo agreement. The used interest rate was of 6.25 percent, the key interest rate in Romania.

It was the second day in a row when BNR starts a repo operation. The one on Tuesday consisted in the equivalent in RON of almost EUR 749 million, the biggest sum paid through a repo from the beginning of the year.

Repo is a contract in which the seller of securities agrees to buy them back at a specified time and price.
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(photo source: Corina Saceanu/Romania-Insider.com)