Moldova records highest currency net supply for current year in April 2016

Chisinau, 23 May /MOLDPRES/-According to the National Bank of Moldova (BNM), the coverage degree of the net demand for foreign currency by economic agents, through net supply of foreign currency by natural persons, considerably grew in April and reached its highest level in 2016, of 186.2 per cent, against 103.6 per cent in March.

While the demand for foreign currency visibly shrank in April, the supply grew and caused an increase in the coverage degree. While the net supply of foreign currency by natural persons increased by 41.6 million dollars, the net demand for foreign currency by economic agents decreased by 46.4 million dollars.

Amid a surplus of currency, BNM announced that it had made procurements accounting to 108.1 million dollars on the local interbank market.

Under these circumstances, the exchange rate of the national currency has moderately decreased over April 2016 against the U.S. dollar, and increased by 0.7 per cent in late April, against its rate in the last day of March. The average exchange rate has also shrunk by 0.6 per cent, going from 19.8160 in March to 19.7066 in April.

BNM’s data shows that the net supply of foreign currency by natural persons reached 617 million dollars in four months, whereas the net demand for foreign currency accounted for 514 million dollars.

While the net supply of foreign currency represents the difference between purchases and sales carried out by the population, the net demand for foreign currency shows the difference between purchases and sales made by economic agents.

(Reporter V. Bercu, Editor A. Raileanu)