Moldovan currency continues to depreciate

Chisinau, 22 January /MOLDPRES/ - The National Bank of Moldova (BNM) has established an exchange rate of 20.2523 lei for 1 euro for 23 January, thus the national currency exceeded the psychological threshold again, against an unfriendly regional background and appreciation of the dollar, following an unexpected growth of the United States' economy.

The Moldovan currency has depreciated by over 6.6 per cent in nominal terms since early 2015, when the exchange rate was 18.9966 lei for one euro.

A new psychological threshold was also reached in the case of the exchange rate of the national currency against the US currency, one dollar amounting to 17.4176 lei. The leu depreciated against the dollar by 11.5 per cent in early 2015, following a drop of 19.6 per cent over the previous year.

The depreciation of the leu continues, despite the National Bank’s intervention amounting to 25 million dollars in sales on 19 January.

The Moldovan leu continues to depreciate against the dollar, in conditions of the American currency's appreciation, depreciation of the currencies of Russia and Ukraine, two of the most important trade partners of Moldova, and the regional crisis, as well as the decrease in exports and remittances. The net offer of foreign currency has significantly diminished, which puts pressure on the foreign exchange market.