Situation on currency market is calm, NBM governor

The fluctuations in the exchange rate of European common currency against the US dollar are important for the domestic currency market, but not fundamental, said the governor of the National Bank of Moldova (NBM) Dorin Dragutanu. In a discussion with the press, the governor stated that the international experts seem to have reached a consensus about their forecasts - 1 euro – 1.30 dollars. This rate would ensure certain stability, he stressed, quoted by Info-Prim Neo. ”The behavior of the participants in the currency market of Moldova is very important. This behavior is rather rational. When the leu appreciates against the euro, the private individuals or legal entities regard this as e very favorable moment for selling foreign currency and buying more lei. There is a natural mechanism that regulates the currency market. The depreciation of the leu now does not lead to massive purchases of foreign currency, as earlier. On the contrary, they now sell foreign currency to buy more lei and satisfy the personal or business needs,” said Dorin Dragutanu. He also said that the situation on the currency market is absolutely clam, despite the small excess of foreign currency. This is because it was cold in December and January and the consumption of energy resources was low. “The purchases of foreign currency in February will be probably larger than in January,” said Dragutanu, adding there are no internal preconditions that may lead to a worsening of the situation.