Bucharest Court freezes Swiss franc exchange rate to RON 2.1 for one loan contract

The Bucharest Court has decided to indefinitely freeze the Swiss franc exchange rate to RON 2.1 for a person that has sued the bank that provided him with a loan in Swiss francs. Moreover, the lender has to accept the payment in lei, not francs, reports local Euractiv.ro. The person had complained of unfair clauses in the contract and asked to repay the loan at an exchange rate of RON 2.1 per CHF, not at the current rate, which is above RON 4. According to the person’s lawyer, the decision is final. The loan of 86,000 Swiss francs was granted in 2007. “The borrower gets rid of any currency risk, the decision is final and must implement forthwith,” the lawyer said. The decision could be used by other people who contracted loans in Swiss francs to start their own court actions against the banks who financed them. editor@romania-insider.com