The director of the Market Economy Institute Roman Chircă said exaggerated panic is created around the depreciation of the leu witnessed the past few days and the currency market speculators are waiting for such fuss. In the talk show “Issue of the day” on Canal2 channel, the economic expert said such a fluctuation is slightly more worrisome than normally, IPN reports.
Roman Chircă noted there are particular preconditions, such as the increased demand for currency and the political instability in the Republic of Moldova. “I think the leu will depreciate further against the main foreign currencies, but the fluctuations are minimal and not at all significant,” he stated.
Journalistic Eduard Robu said Moldova’s economy is a ‘seasonal’ one. They buy more resources for heating in winter and, respectively, the demand for currency is greater. In spring, important quantities of fuel are purchased for agricultural works and currency is needed again. In summer, the remittances from Moldovans who work abroad increase in value, while in autumn the exports of agricultural products are larger.
“Correspondingly, we have a shortage of foreign currency in spring and a surplus in summer and autumn and things are offset. Furthermore, I saw that in March the National Bank of Moldova bought currency. Respectively, we can say it is controlled deprecation aimed at stimulating domestic producers and exporters to make the goods more competitive,” stated Eduard Robu.
Since the start of April, the Moldovan leu has depreciated by 0.76 lei against the European common currency and exceeded the ceiling of 20 lei per euro.
