The demand for foreign currency in the Transnistrian region amounted to over US$10.8 million and the central bank in Tiraspol could satisfy no request from commercial banks and business entities owing to lack of supply, IPN reports, quoting the Transnistrian press.
The Transnistrian central bank on April 5 held a new tender contest for local commercial banks and business entities, but no bid was submitted and the demand for foreign currency remained thus unsatisfied.
Meanwhile, Agroprombank offered the central bank a loan of US$10 million. But the central bank’s administration refused it for the reason that this loan will help satisfy the demand for foreign currency during a day only and the situation on the currency market will not be remedied.
The Transnistrian region started to face a shortage of foreign currency at the beginning of this year. This is generated by the reduction in the region’s exports and in the price of electric power sold to the right bank of the Nistru River, which was earlier a stable source of foreign currency for Tiraspol. The region’s administration considered the possibility of gradually devaluing the Transnistrian ruble, but the local supreme soviet rejected this proposal without offering a solution instead.
