Finances

MOLDOVAN LEU EXCHANGE RATE STARTS TO REGAIN LOST POSITIONS – DEALERS

03 april, 2020

The Moldovan leu rate will soon regain the ground lost to the US dollar and the Euro, maintain currency market dealers.

“On Thursday a large order for currency was registered and the banks tried by all means to fulfill it, thus US dollars were bought at quite an overstated price. This caused a panic demand for currency from physical persons with weak character”, the one of dealers said to Infotag.

According to him, on Friday the demand for foreign currency has sharply fallen and such a trend will most likely preserve for the entire next week.

Asked if the Moldovan leu can strengthen to the habitual correlation of MDL17.50 : US$1, most dealers said that the exchange rate will most likely remain at MDL18.00 : US$1 or slightly beyond this threshold.

“This is connected with market’s great expectations for decline in currency demand both from exporters and from labor migrants”, the professional market participants say.

They supposed that partially this shortage of foreign currency will be reimbursed from the financial assistance from Moldovan partners, as well as credits, about which Ion Chicu Government is holding negotiations with the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development and the European Investment Bank, as well as the sovereign credit from the Russian Federation worth 200 million euros.

Infotag’s dossier: For April 3, the NBM established the following exchange rates: MDL18.4281 : US$1 and MDL20.1217 : Euro1, weakening the national currency against this currency pair.

Add Comment

Add Comment

  • name
  • email
  • message
Thanks!
Your comment will be published after administrator approval.