Last weekend, the European common currency saw fluctuations because of insufficient liquidity as most of the foreign exchange market participants went on vacation. The European banks are preparing for stress testing on the part of the central bank. Director of the portal Financial Brains Moldova, Dr. Sveatoslav Mihalache has told IPN that stress testing is a simulation of a crisis to see how it will be coped with.
When the National Bank of Moldova set the official exchange rate of the national currency against the euro, its quotations were the highest. In the second part of December 27 and on December 30, the euro rates returned to the previous levels. “I anticipate that this rate will not exceed 17.95 lei for tomorrow, December 31,” said Dr. Sveatoslav Mihalache.
According to him, such turbulence is typical for the period of the holidays, when the liquidity is insufficient given that most of the people are on vacation. Such phenomena do not affect the national economy of Moldova. Only fluctuations lasting for at least two weeks would have an impact on the economy.
The official exchange rate of the Moldovan leu this morning was 18.11 lei per euro and 13.06 lei per U.S. dollar.
