Moldovan National Bank's foreign currency reserves increase while currency supply exceeds demand

Chisinau, 8 October /MOLDPRES/ – The official reserve assets continued to grow in September, while the net foreign currency supply exceeded demand. Foreign exchange reserves amounted up to $2 billion 146,7 million, with about 390 million above the level reached at the end of 2015, with reference to data of the National Bank of Moldova (BNM). 

BNM statistics indicate that in September the reserves increased by over $50 million. Amid a surplus of foreign currency, the central bank interventions performed for procuring on the local inter-bank market. The experts noted that the foreign exchange reserves reached the critical import for five months.

The highest level of official reserve assets was reached to the middle of 2014, when it passed $2,8 billion, but after emergency loans robbed three banks (Banca de Economii a Moldovei/BEM (Bank of Savings of Moldova), Banca Sociala (Social Bank) and Unibank), the reserves dropped dramatically and dropped to $1,8 billion. In early 2016, after stabilizing the situation on the foreign currency market, there is a continuing trend of increase in reserves, which in recent months returned to the figure of over $2 billion.

(Reporter V. Bercu, editor L. Alcaza)