The exchange rate of the national currency against the currencies of the country’s main commercial partners went up this year as well. Economic expert Viorel Gîrbu stated for Infodebit that the national currency has appreciated gradually since 2016. This points not to the economic power of the country, but rather to structural dysfunctionality.
The expert told IPN that the quotations of the national currency can influence the volume of foreign commercial exchanges and their structure. The appreciation of the national currency against the currencies of the country’s main commercial partners is one of the factors that diminish the attractiveness of Moldova’s exports and, implicitly, the development potential of the national economy. Among the factors that affected the attractiveness of exports during the first ten months of this year is the fact that the deficit in the foreign trade with the EU member states rose by 6.4%. Exports to Romania fell by 0.7%.
The appreciation of the national currency against the euro and dollar this year became more evident after July. In the period, the net supply of currency from private individuals reached values comparable to the net sales of currency by legal entities. Loans and grants of a considerable value (over US$80m) that entered the accounts of the Ministry of Finance and the National Bank of Moldova’s behavior on the currency market are factors that can be yet associated with the appreciation of the national currency, especially during the last months of the year.
The official quotations of a euro for December 30 were set at 19.206 lei, down 1.6% compared with the start of this year. A Romanian leu was officially quoted at 4.018 Moldovan lei, down 4.3% compared with the beginning of this year.
