FX forecast for May 12

The National Bank yesterday intervened on the market to buy foreign currency for lei, PhD Sveatoslav Mihalache, the director of the portal Financial Brains, has told Info-Prim Neo. According to Mihalache, the physical amount of dollars decreased slightly, with the US currency being traded among banks at 11.2450 – 11.2650 lei. Today the exchange facilities will buy dollars at 11.14 – 11.17 lei and will sell at 11.24 – 11.27 lei. After a spectacular appreciation on Friday the euro attempted a correction yesterday. Today the European currency will trade on the international market within a corridor with its lower limit at $1.3510 and the upper limit at $1.3700. Mihalache thinks that the main resistance level, situated at the $1.3737, is virtually unsurmountable, as it resisted a host of attempts in the first half of March. If this height resists, the euro is likely to return to the previous levels of $1.34 – $1.33. In Moldova the rates for the euro will be at around 15.10 – 15.15 lei (bid) and 15.33 – 15.38 (ask). To follow the developments of the main currency pairs throughout the day visit www.fb.md