In March 2022, the situation on the Moldovan foreign exchange market worsened: it showed a net demand for currency, both from economic agents and from individuals - the NBM.
This was announced by the National Bank of Moldova, recalling, for comparison, in February 2022, the net demand for foreign currency from economic agents by 45.4% was covered by the net supply of foreign currency from individuals. At the same time, according to the NBM, in March, the net demand for foreign currency from individuals amounted to $26.1 million compared to the net supply of foreign currency in the amount of $101.4 million in February, having decreased by $127.5 million compared to the previous month. Herewith, net demand for foreign currency on the part of economic agents decreased to a lesser extent, by $25.9 million (-11.6%). Under these conditions, the NBM intervened in the local interbank market through net sales of foreign currency in the amount of $232.8 million. In March, the Moldovan leu depreciated by an average of 2.3% against the US dollar, from 17.9595 lei per $1 in February. As of the end of March, the leu depreciated by 0.8% against the US dollar. In the currency structure of net leu/foreign currency conversions with individuals, there was a net demand for the euro and a net supply of US dollars and other currencies, mainly pounds sterling. As the National Bank noted, taking into account inflationary expectations and the evolution of the market as a result of the increase in energy tariffs, which manifest themselves at the international level and in Moldova, respectively, as well as the geopolitical situation, the NBM is closely following the development of events and will intervene through its monetary policies to create adequate conditions in the money, credit and foreign exchange markets. // 21.04.2022 — InfoMarket
