Supply strongly increases on Moldova's currency market in last March, amid decrease in currency demand
16:45 | 23.04.2019 Category: Economic
Chisinau, 23 April /MOLDPRES/ – The coverage of the net foreign – exchange demand by economic agents throughout the net foreign exchange supply of individuals constituted 120.3 per cent in March compared to 47 per cent in February, according to data from the National Bank of Moldova (BNM).
The net foreign currency supply of individuals grew by over $51 million, while net demand for foreign currency by economic agents had an opposite trend, decreasing by $71 million. The individuals sold in March a total amount of $245.1 million and bought $106.5 million.
Related to it, the BNM intervened throughout net foreign currency purchases of $10.4 million and €40.4 million on the local interbank market.
The Moldovan leu (MDL) depreciated slightly in March, in average values, by 0.4 per cent versus USD, to MDL 17.1859 for $1 as opposed to MDL 17.156 for $1 in February 2019. According to the values at the end of month, MDL depreciated in March by 0.9 per cent against USD.
Within the structure of the net foreign currency supply from individuals, the largest share continued to be the single European currency (EUR) (69 per cent).
According to the BNM’s information and media communication service, in the first quarter of 2019, net foreign exchange offer from individuals was $361.6 million, down by $100 million from the same period of 2018, while demand increased by $111 million, up to $522.7 million. Thus, coverage constituted 69.2 per cent in the first quarter of 2019.
