Moldovan leu appreciates against euro, U.S. dollar in late August

Chisinau, 29 August /MOLDPRES/ – The national currency (MDL) appreciates against the European single currency (EUR) and U.S. dollar (USD) within last days of August, according to the official exchange rates displayed by the National Bank of Moldova (BNM).

Thus, the value of USD in upcoming days is MDL 17.83 for $1, by MDL 0.07 less than today. The exchange rate of EUR depreciates by MDL 0.12 down to the official price of MDL 19.74 for €1.

Also, the cost of Romanian leu (RON) depreciates by MDL 0.03, and Ukrainian hryvnia (UAH) – with MDL 0.01. As a result, RON – MDL 04.17 for L1; UAH – MDL 0.70 for ₴1. The value of Russian rouble (RUB) preserves its value of MDL 0.26 for ₽1.

The economic expert, Veaceslav Ionita, argues that the basic factors that influence the exchange rate are the reduction of remittances, stagnation of exports and increase of the balance of trade balance of Moldova. Thus, starting with August 2018, MDL has recorded several periods of appreciation/depreciation, but the general tendency is its slow depreciation against currency basket EUR&USD.

According to expert, this depreciation trend is determined by the low supply of foreign currency and continuous increase in demand. Thus, within a year, the supply of foreign currency by individuals has remained unchanged and stabilised at a level of $2.070 mln, yearly. Also during this period, the demand for foreign currency has increased by $445 mln.

The experts forecast that in upcoming months will keep the swing of MDL against currency basket EUR&USD, with a slight inclination towards depreciation of MDL.