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Romanians borrow in RON but keep savings in hard currencies

Romanians speed up borrowing in local currency but move their savings into hard currency accounts, a prudent strategy that could be associated with lower confidence in the RON and worries regarding the economic situation. Bank deposits in RON have become less attractive during the last couple of years as a consequence of low – and real negative – interest rates, currency depreciation and high inflation rate. However, ...

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