After declining by US$144.15 million in March and the first half of April, the official reserve assets rose back to US$3.118,53 billion, according to the data available on April 24, 2020.
In a response to an inquiry made by IPN, the National Bank of Moldova said the returning of the official reserve assets to a level that exceeds US$ 3.1 billion strengthens the central bank’s capacity to intervene and regulate the imbalances in the balance of payments and to diminish the excessive volatility of the exchange rate.
According to the NBM, such a development is primarily due to the provision of the emergency loan for managing the exceptional epidemiological situation caused by COVID-19 by the International Monetary Fund. The loan is of 172.5 million Special Drawing Rights, which is equal to US$233.9 million.
The reduction in the official reserve assets in March and the first half of April was principally influenced by the currency sales on the domestic currency market, which were aimed at redressing the temporary imbalances between the supply and demand of currency.
