If the average exchange rate of the euro against the dollar decreases, the leu will appreciate, the governor of the National Bank of Moldova (NBM) Dorin Dragutanu said in a news conference, being quoted by IPN.

According to him, the data on the international markets point to a high probability that the European common currency will depreciate, but not so markedly as anticipated earlier. The updated forecast presented by the NBM on May 5 says the average exchange rate in 2014 and 2015 will be US$1.36 and, respectively, US$1.34 per euro.

“The average euro-dollar rate will decline and the leu should appreciate automatically. We will see if this happens,” stated the governor.

Asked about the exchange rate of the leu against the euro the next months, Dorin Dragutanu said the central bank does not have an objective or a target as regards the exchange rate of the leu against the euro, the dollar or another currency.

“The only goal of the NBM is to maintain an inflation rate of 5% with a deviation of plus/minus 1.5%. Consequently, I will not make forecasts as to how many lei an euro or other currencies can cost. I underlined this when presenting the updated forecast, according to which the next quarters will see an uncertain and volatile regional and global environment, with dominant disinflationary risks. What I can say is that the NBM will firmly implement stimulatory monetary policies so as to temper the disinflationary pressure through the interest rate and the exchange rate,” said the governor.