In April 2022, the situation in the foreign exchange market of Moldova has improved; economic agents’ net demand for foreign currency was covered at 67.6% by the net supply of foreign currency from individuals – the NBM.
The National Bank of Moldova announced this, noting that, as a result of foreign exchange transactions with individuals, the net supply of foreign currency amounted to $127.4 million, while in March individuals’ net demand for foreign currency amounted to $26.1 million. According to the NBM, in April this year economic agents’ net demand for foreign currency decreased by $8.7 million (-4.4%) to $188.5 million. Under these conditions, in April, the NBM carried out interventions in the local interbank market, both by buying and selling foreign currency, its net sales at the end of the month amounted to $0.05 million. In April, the Moldovan leu (MDL) depreciated by an average of 0.3% against U.S. dollar - up to 18.4274 lei per $1, compared with 18.3739 lei per $1 in March. As of the end of April, the MDL depreciated by 1.2% against the U.S. dollar. In the structure of the net supply of foreign currency from individuals, the largest share still accounted for the EUR (48%). Taking into account inflationary expectations and market conditions as a result of the increase in energy tariffs, which is manifested at the international level and in Moldova, respectively, as well as the geopolitical situation, the NBM is closely following developments and will intervene through monetary policy in order to create adequate conditions for the monetary, credit and currency markets. // 23.05.2022 - InfoMarket
