Population's RON deposits up 52% in August

The population’s savings registered strong growth in August, with deposits in RON posting the highest annualised growth rate of the last three years (52%) according to data reported by the National Bank of Romania (NBR). As a result, the population’s RON deposits tripled their growth rate against last year, when they had increased by 18% in August 2006. The RON also remains the population’s favourite currency for savings and consolidated its dominant position against foreign currency deposits. The population’s savings in RON (11.5 billion euros) were double the level of foreign currency deposits (5.9 billion euros). The situation remains similar for companies, where deposits in RON are significantly higher than those in foreign currency and also register a much faster growth rate in comparison. In fact, companies’ foreign currency deposits recorded their eighth consecutive month of decline (on an annualised basis).