MDL strengthened against USD in May

The official currency exchange rate of the Moldovan leu (MDL) rose against the U.S. dollar (USD) from MDL 12.46 per USD 1 in April to MDL 12.36 in May 2007. The average official exchange rate of the national currency against the euro (EUR) went up from MDL 16.8183 per EUR 1 in April 2007 to MDL 16.72 per EUR 1 in May. The average official exchange rate of the national currency against the Russian rouble (RUB) appreciated from MDL 0.48 per RUB 1 in April to MDL 0.48 per RUB 1 in May. At the end of May as compared to the end of December 2006 MDL appreciated against USD in nominal terms by 3.87% (indirect quotation), while in real terms – by 5.49% (being directly proportional to the inflation level of Moldova and inversely proportional to the inflation level of the U.S.) The total value of U.S. dollars traded by banks in the inter-bank market in May 2007 constituted USD 109.2 million, going up by USD 41.1 million as compared to the previous month. During the reporting period, the acquisitions of foreign currency of the National Bank of Moldova made up USD 41.8 million and went up, as compared to April 2007, by USD 20.9 million. The total turnover of selling/buying transactions against MDL of the main foreign exchange currencies performed in May 2007 in the domestic foreign exchange market was USD 764.6 million, increasing by USD 17.7% against April 2007 (USD 649.5 million). Acquisitions of the main foreign exchange currencies against MDL in the domestic foreign exchange market totalled USD 394.1 million and sales stood at USD 370.5 million. Compared to the previous month, acquisitions against MDL increased in May 2007 by 17.6%, and sales – by 17.8%. Out of total turnover, transactions in USD constituted 62.3%, in EUR – 34.2%, in RUB – 2.7%, in UAH – 0.4% and in RON – 0.4%. Compared to April 2007, the weight of turnover in USD diminished by 1.9 percentage point, while the weight of turnover in EUR enlarged by 1.8 percentage point.