The Transnistrian market is facing a shortage of foreign currency, especially US dollars. Local specialists say the imbalance on the currency market is due to the decline in the price at which the electric power is now sold to the right bank of the Nistru River, IPN reports.
According to the Transnistrian press, now that the price of electricity is by 28% lower, there will be a shortage of about $65-70 million in the region. This will influence the currency market even more, while the deficiency of US dollars will continue to be felt.
Owing to the deficient situation on the currency market, the leader of Transnistria Yevgheny Shevchuk introduced a new currency selling mechanism for the local central bank. This will be able to sell currency to commercial banks only once a week, not daily, as until recently. The measure is aimed at stabilizing the situation so as to avoid the depreciation of the Transnistrian ruble and to satisfy the business entities’ demand for foreign currency at least partially.
