FX forecast for Mar.19

After the last week's shocks, the Moldovan currency market yesterday, March 18, seemed a little livelier, as the actors left their refuges, regaining some confidence, PhD Sveatoslav Mihalache, the director of the portal Financial Brains, told Info-Prim Neo. The interbank exchange rates for the US dollar ranged yesterday between 11.03 and 11.08. According to Sveatoslav Mihalache, today the currency exchange facilities will continue to behave as students peeking into cribs, from where they will transcribe the following exchange rates for the US dollar: 10.82 – 10.85 (bid) and 10.95 – 10.99 (ask). The rate for the European currency will be largely influenced by the events that occurred yesterday on the international market. One of these events was the US Federal Reserve policy meeting. Although the FRS policy makers decided to leave the refinance rate unchanged at 0.25 percent, the statements that followed at a news conference were rather harsh. This led to a spike in the parity EUR/USD, which jumped from 1.3120 to 1.3490 in just some 20 minutes. At the same time, there were reports among traders that the Swiss central bank yesterday repeated last Thursday's move, intervening massively to sell francs against EUR and USD, and thus depreciate the Swiss franc, a traditional haven currency, As a consequence, the Moldovan currency exchange desks will display today the following rates for the euro: 14.30 – 14.35 (sell rate) and 14.70 – 14.80 (buy rate). To follow the developments of the main currencies through the course of the day, visit www.fb.md