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The Moldovan leu, with all its fluctuations during the year, remains a stable currency compared to the main base currencies - Veaceslav Ionita.

The Moldovan leu, with all its fluctuations during the year, remains a stable currency compared to the main base currencies - Veaceslav Ionita.

This was stated by the economic policy expert of the Institute for Development and Social Initiatives (IDIS) Viitorul. To illustrate this trend, he analyzed the evolution of the exchange rate in the first week of the year over several years. Veaceslav Ioniță noted that the Moldovan leu has demonstrated clear stability for at least 5 years compared to the 10 currencies of Moldova's main trading partners. According to him, the analysis shows that after fluctuations in depreciation and then strengthening from 2015 to 2018, a period of stability followed already for 5 years. Compared to the 10 major currencies of Moldova's main trading partners, the Moldovan leu starts the year at about the same level. "It is clear that since 2019 the average weighted exchange rate of the Moldovan leu has fluctuated slightly and is currently 0.7% lower than last year, but 0.9% higher than in 2019," the expert stated. He noted that the depreciation of the leu by 0.7% in the first week of 2023, compared to the first week of 2022, was mainly due to the depreciation against the Russian ruble (-11.9%), the US dollar (-7.5%) and the Czech crown (-3.3%). On the other hand, in 2022 the Moldovan leu appreciated significantly against the Turkish lira (+23.4%) and the Ukrainian hryvnia (+20.1%). Compared to the euro, the leu slightly depreciated (-0.8%). Despite this, compared to 2019, the Moldovan leu appreciated by 0.9% in the first week of 2023. As the expert emphasized, first of all, this is due to the strong strengthening against the Turkish lira (+67.9%), the Ukrainian hryvnia (+16.5%) and the Belarusian ruble (+11.55%). Herewith, the leu depreciated against the US dollar (-11.7%), the Czech koruna (-11.4%) and the Chinese yuan (-11.3%) over these 5 years. In relation to the euro, the Moldovan leu depreciated in the first week of 2023 compared to the previous 5 years by 4.1%. Analyzing the two main currencies - the euro and the US dollar - Veaceslav Ionita stated that, despite fluctuations during the year, the leu has been starting the year at approximately the same level for at least 5 years. The expert also noted that the exchange rate in 2022 was most affected by 4 factors: 2 negative factors - rising energy prices and the war in Ukraine and 2 positive factors - external financial support and interventions of the National Bank in the foreign currency market. // 09.01.2023 — InfoMarket.

News on the subject

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