FX forecast for May 18

Certain decisions made by the National Bank of Moldova contributed to the stabilization of the situation on the currency market. This is not the merit of the government as it was reported last weekend, Financial Brains director Sveatoslav Mihalache has told Info-Prim Neo. “There is a certain dose of controversy in the decisions taken by the central bank, but they were and remain necessary when the panic and rumors threaten to destabilize the situation. The situation in the banking system is indeed difficult, but not the National Bank is to blame,” Mihalache said, explaining that some of the banks once made investments in less liquid areas, including real estate, and thus face problems now. [USD] The US dollar this week will trade at around 11.17 – 11.25 (bid) and 11.28 – 11.38 (ask). Today, May 18, the currency exchange facilities will buy the dollar for 11.17 – 11.21 and sell it for 11.27 – 11.30. In a more distant future, the US dollar is expected to reach 11.40 – 11.60 lei. [EUR] The euro will depreciate against the Moldova leu. This week, the European common currency will trade at rates ranging from 14.80 to 15.05 (bid) and from 14.85 to 15.15 (ask). Today the currency exchange facilities will post the following rates: 14.98 – 15.05 lei (bid) and 15.27 – 15.35 lei (ask). On the world markets, the euro will attempt an improvement from last night’s fall to pass the $1.3450 level, where it stopped. To follow the developments of the main currency pairs throughout the day, visit www.fb.md.