Foreign investors reduced their exposure to Romanian government securities in the first part of 2026, amid domestic political turbulence. Non-resident holdings fell to 16.7 percent of public debt in July 2026, according to Ministry of Finance statistics published with some delay.
In lei terms, non-resident holdings stood at 76 billion lei in July. Converted into euros, the stock was approximately 15 billion euro.
A steady slide from earlier peaks
The non-resident share was 19.5 percent at the start of 2026. During 2025 it oscillated in a range of 19 to 20 percent of public debt.
The share was higher in earlier years. It reached about 25 percent in 2024 and exceeded 26 percent in 2023. Over four years the share fell by almost 10 percentage points.
Currency pressure alongside the outflows
The decline in foreign holdings came alongside episodes of leu weakness against the euro. The EUR/RON rate passed 5.1 and then 5.2 lei to the euro in the first part of the year.
The pair later set a record above 5.35 lei to the euro in October, the record notes. The article ties the currency moves to the same political uncertainty.
Related: Foreign investors sold Turkish bonds, stocks last week
Source: Ministry of Finance
