Credit in exotic currencies slows down in April

Credits taken out by the population in exotic currencies rose by a mere 4% in April and saw a significant slowdown from the levels of 10-20% seen over the last year. At the end of April, the volume of credits granted to the population in currencies other than RON amounted to a little over 9 billion RON (equivalent to 2.4 billion euros). This volume largely accounts for credits granted in Swiss francs, given that the population’s demand for financing in dollars and other currencies is very low. Compared with April last year, the increase is significant, i.e. almost five times higher in volume. However, the growth rate was significantly down, considering that last autumn saw as much as a 10-fold increase. The slowdown is also due to the base effect.