FX forecast for Apr. 23 – Euro hits year’s low

- [USD/MDL:] The National Bank yesterday continued its interventions to consolidate the efforts made the previous day in order to correct the dollar/leu rate, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. Those interventions served their purpose, so in the second half of the day the currency exchange facilities were refraining from buying dollars as well as euros. Today the dollar is expected to buy at 12.58 – 12.58 lei and sell at 12.66 – 12.68 lei. [EUR/USD:] After Eurostat yesterday published Greece’s budget deficit, which dropped nearly one percentage point from -12.7% to -13.6% of GDP, the euro started an abrupt decline. So, from the ‘heights’ of the $1.3420 mark, the euro plummeted overnight to hit another year’s low of $1.3205. [EUR/MDL:] The euro will depreciate significantly on the domestic market as well, to bid rates of 16.60 – 16.65 lei, and ask rates of 16.90 – 16.95 lei (although ‘arithmetically’ it should have been no higher than 16.75 – 16.80 lei). For further details visit www.fb.md or www.financialbrains.eu