Calm week on domestic currency market, but watch out for euro

This week has been favourable for bank liquidity due to interventions by Moldova's central bank, which, according to unofficial data, bought some $20 million worth of foreign currency from commercial banks in just three days (Monday to Wednesday), PhD Sveatoslav Mihalache, the director of the portal Financial Brains, told Info-Prim Neo. At the same time, this week hasn't seen any fluctuation capable of affecting the market. In the reference period the US dollar has traded at a minimum of 11.12 lei (bid) and a maximum of 11.32 lei (ask). The National Bank's operations have led to a supply/demand equilibrium for the dollar, situated at around the MDL11.27 mark, which virtually matches the official rate. On weekend, the currency exchange facilities of the commercial banks will buy dollars at 11.17 – 11.20 lei and sell at 11.28 – 11.32 lei. However, private currency facilities will be tempted to lower the sell rate and cash in on the people's increased need for lei during these holidays, says Mihalache. [Watch out for the euro!] In perfect agreement with Financial Brains' prediction, the euro yesterday reached the $1.3550 mark on the international market and appeared to be on course for even higher levels. So, according to Mihalache, the real sell rate for the euro during this weekend should stand at around 15.15 lei. But the so-called psychological factor will influence the currency traders to display sell rates no higher than 14.95 – 14.98 lei. At the same time, the buy rates will stand as high as 15.18 – 15.25 lei. In these circumstances, Financial Brains finds it unwise to sell euros for lei during this weekend, because there is a possibility that at the start of the next week the sell rate for the European currency will grow as high as to 15.45 lei. To follow the developments of the main currency pairs throughout the day visit www.fb.md

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