Currency exchanges required to have 100,000 lei cash at day's start

Currency exchanges, both belonging to banks and separate businesses, are required to have an equivalent of 100,000 lei in cash in different currencies at the beginning of each operational day, Info-Prim Neo reports. Marin Molosag, the deputy governor of the National Bank of Moldova (NBM), explained that the measure was needed to prevent cases where, due to midday exchange rate fluctuations, currency exchanges refuse to trade a certain currency at rates fixed at the beginning of the day, despite being required by law to do so. There are also cases where, due to attractive rates, some currency exchanges run out of cash very fast. Further, Marin Molosag said that currently there wasn't any problem on the currency market that needed the NBM's intervention. “There are enough amounts of euros, dollars and lei. The currency market is a balanced one and both individuals and companies can engage in such transactions as they wish”, he said.

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