Romania – Factors to watch on Sept. 25

BUCHAREST, Sept 25(Reuters) – Here are news stories, press reports and events to watch which may affect Romanian financial markets on Tuesday.

M3

Romania’s central bank to release M3 money supply data for August.

DEBT TENDER

Romania sold a more than planned 655 million lei ($165.62 million) worth of April 2024 treasury bonds on Monday at an average accepted yield of 4.39 percent, central bank data showed.

CEE MARKETS

Hungarian long-term government bond yields dropped on Monday as the state prepared for a rare euro-denominated bond issue which could allow it to sell less paper in the domestic market.

REPO

Romania’s central bank injected 6.51 billion lei ($1.64 billion) into the market via a repo tender at which eight banks participated.

TRANSELECTRICA

Romanian state-owned power grid operator Transelectrica said on Monday it has finished upgrades at a transmission hub in eastern Romania worth 100 million lei.

The hub is one of six investment projects either completed or in the works in the southeastern region of Dobrogea, which provides about a third of the country’s electricity production. The projects, which should all be completed by 2021, are worth a total of 390 million lei ($98.44 million) and aim to increase the national grid’s safety and integrate renewable energy.

MINIMUM WAGE

The Romanian government is working on a bill to raise the minimum wage to 2,050 lei ($517.43) from January 2019, Labour Minister Olguta Vasilescu was quoted as saying. www.hotnews.ro

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