FX forecast for May 20

The decision to cut the base rate by a percent taken yesterday by the central bank is aimed at increasing liquidity and is a classical anti-crisis measure, Financial Brains director Sveatoslav Mihalache has told Info-Prim Neo. According to him, the effect of the lower refinance rate will be felt on the foreign exchange market, but not immediately – in about two weeks. [USD:] Today, the rates for the US dollar at the currency exchange facilities in Moldova will be: 11.15 – 11.18 lei (bid) and 11.25 – 11.29 (ask). [EUR:] The currency exchange facilities will buy euro for 15.08 – 15.15 lei and sell it for 15.33 – 15.38 lei. After falling to $1.3420 on Monday, the euro rose yesterday to a maximum level of $1.3660. But, according to timetables, certain indicators show that the European common currency will slide again. Financial Brains expects the euro will again reach the $1.3480 level in a short period of time. In Moldovan lei, this is 15.10. “Thus, the euro offers one more chance to those that want to risk selling it at an advantageous rate,” Mihalache said. To follow the developments of the main currency pairs during the day visit www.fb.md.