The National Bank of Moldova said the foreign currency market of Moldova is now at a temporary readjustment stage, the volatility and pace of depreciation against the reference currency, the euro, being closely monitored, IPN reports.
In a press statement, the NBM said the euro on the foreign financial markets has lately appreciated against the dollar amid the evolutions of the macroeconomic indicators in the Eurozone. Respectively, in April the European common currency increased in value from 1.1218 EUR/USD to 1.1300 EUR/USD and the trend explains the depreciation of the leu against the euro.
At the same time, the domestic foreign currency market was marked by a moderate tendency of depreciation of the Moldovan leu against the dollar, by about 0.48 lei. “There are no preconditions for crisis situations on the foreign currency market as there are minor discrepancies between the supply and demand for foreign currency. The main market operators behave calmly and work as usual,” stated the central bank.
The NBM reiterated that it does not forecast the progress of the leu as its key objective is to ensure and maintain the stability of prices, but it will continue to monitor the developments on the internal foreign currency market. It has enough instruments to influence the market, including adequate foreign exchange reserves, to react promptly if need be.
