FX forecast for Apr.17

Yesterday, April 16, some currency exchange facilities in Moldova ventured to display a sell rate of 11.05 lei for the dollar, which according to Financial Brains was an attempt to continue a tradition from previous years, when on holidays, including during Easter-tide, the Moldovans used to exchange a lot of foreign currency, an opportunity to profit from. But this year will be different, due to the global meltdown and consequently the fall in remittances. As a result, the amount of currency to be exchanged in this period is expected to drop, and the sell rates will not be lowered that much. Financial Brains continues to believe that in a month's term the US dollar will rise to the level of 11.40-11.60 lei. Today, the US dollar will trade at 11.17 – 11.20 (bid) and 11.27 – 11.33 (ask). The euro will trade for 14.65 – 14.69 (bid) and 14.88 – 14.93 (ask). To follow the developments of the main currency pairs through the course of the day, be sure to visit www.fb.md