The exchange rate in the Transnistrian region will remain unchanged for the next few months, but the foreign exchange and gold reserves have substantially increased in the recent months, the governor of the so-called Central Bank of the Transnistrian region Vladislav Tidva said, quoted by IPN.
In a program on the TV channel ТSV, the new senior banker of Transnistria said the foreign exchange and gold reserves in the region are in a deficit of US$20 million. When the previous leader Yevgheny Shevchuk came to power in Transnistria in December 2011, this indicator was minus US$4 million. Such a huge deficit is also the result of the fact that the Central Bank during the last few months, with the consent of the previous leader, had sold currency outside the currency market, which is against the Transnistrian legislation.
The governor noted that since this March, the Transnistrian region has witnessed an acute shortage of foreign currency. In the last currency auction on December 14, the Central Bank sold US$50,000 at a time when the demand was of US$53.3 million. Currently, the export of electric power from Transnistria to Moldova is the main source of accumulation of currency. The situation is worsened by the fact that the currency is transferred through an intermediary company whose founders are Moldovan citizens. Transnistria could seek help from Russia in order to stabilize the currency situation.
Vladislav Tidva also said that the variation interval of the exchange rate during the next two months will remain the one set by the local legislature – 11.0-11.3 rubles per US dollar. However, when the fiscal-budgetary policy conception is adopted, expectedly next February, the exchange rate of the US dollar against the Transnistrian ruble could change.
