ROBOR at three months rose to 5.93%, the highest level in the past seven months

The three-month ROBOR index, used to calculate variable interest rates on Romanian leu-denominated bank loans, rose for the second consecutive day on Thursday, 24 September, reaching 5.93%. This is the highest level recorded in nearly seven months.

According to data published by the National Bank of Romania (BNR), the index increased from 5.85% to 5.93% compared to the previous day, having remained constant at 5.84% since 21 May 2026.

The last time the 3-month ROBOR reached a similar level was on 4 March 2026, when the indicator stood at 5.94%. Analysts attribute the latest rise to the depreciation of the leu against the euro, following a period of stability, amid political tensions and uncertainty.

By comparison, the current value is nevertheless lower than that recorded during the same period last year: on 24 September 2025, the 3-month ROBOR stood at 6.54%, according to the BNR.

Which loans are affected

The 3-month ROBOR (ROBOR 3M) influences the interest rate on variable-rate leu-denominated loans granted before May 2019 – primarily consumer loans and a proportion of older mortgage loans. The interest rate on these loans is calculated as follows: ROBOR 3M plus the fixed margin specified in the contract.

The number of Romanians who still hold loans tied to this index has fallen significantly in recent years, dropping to approximately 152,000 individuals, as a portion of borrowers have switched to the new reference index, IRCC.

For comparison, at the end of the first quarter of 2025, there were over 191,000 private individuals with loans linked to ROBOR. In spring 2022, the total number of borrowers with standard mortgage loans, Prima Casă mortgage loans, and consumer loans linked to ROBOR was nearly 490,000, according to BNR data.