FX forecast for Sept. 24

[USD/MDL:] The Financial Brains team today will focus on the performance of the US dollar on the home market. Yesterday, the dollar stated to trade at 11.28 lei and closed the day at 11.35 lei. This happened only on the interbank market, Financial Brains director, PhD Sveatoslav Mihalache has told Info-Prim Neo. Thus, the dollar comes closer to the first balance point standing at 11.40-45 lei. It might appreciate further to 11.70-80 lei (see the FX forecast for Aug. 3), but not in the near future. “Now it is important to avoid the panic. The stress should be laid on the fact that the dollar at this level is in a state of balance,” Sveatoslav Mihalache said, adding that the evolution of the dollar has nothing to do with the political developments. The panic is expressed in the marked difference between the buy rate and the sell rate at currency exchange facilities, with the sell rates being too high. Financial Brains forecasts that today the dollar will be traded at rates ranging from 11,30 lei (bid) and from 11.45 lei (ask). [EUR/MDL:] The euro will be bought for 16.60 lei and higher and sold for 16.70 lei and higher. [EUR/USD:] The market was very volatile yesterday in connection with the Federal Reserves' meeting and the euro tried once again to pass the level of $1.4840, rebounding to $1.4740. Financial Brains predicts the euro will fall to $1.4450. For further details, visit www.fb.md.