The toughening up of the conditions of trading with Russia affects the foreign currency flow to Moldova and the situation on the currency market, but in the short term only, the governor of the National Bank of Moldova Dorin Dragutanu said when asked about the impact of the ban on the import of Moldovan fruit imposed by the Russian authorities, IPN reports.
“It’s hard to assess the short-term effect of this shock as all the possible compensations provided by the commercial and development partners of Moldova and producers’ reorientation to other markets should be taken into account,” Dorin Dragutantu explained.
”In the medium and long term, these effects will not be felt. The companies will definitely find other business partners. We should expect an essential change in the geographical structure of Moldova’s exports. In fact, our foreign exchange market is ready for the shocks deriving from the trade with Russia. The situation on the market is now clam, while the national currency appreciated against the dollar and euro.”
According to the governor, the appreciation by 5.9% against the dollar and by 2.7% against the euro so far this year is a preparatory measure aimed at facilitating the adjustment of the national economy to similar shocks originating in the trade with Russia.
