EUR may become the base currency of the National Bank of Moldova for interventions, exchange rate setting and foreign exchange reserves storing
Anca Dragu, Governor of the National Bank of Moldova (NBM) stated this while answering InfoMarket agency’s questions within the Economic Press Club, after the presentation of the 4th Inflation Report of this year at the NBM. She noted that now the interventions and exchange rate quotations are made against the USD, but the NBM thinks about the transfer of quotations directly to the EUR, because the Moldovan economy has the biggest trade turnover with the European space, in particular, more than 65% of the total volume of Moldova's foreign trade accounts for the EU countries. Anca Dragu said that, in this situation, it is logical and natural to switch to the EUR as the base currency for transactions, interventions and reserves. She noted that she will present more details on this topic by the end of the year. Earlier, during meetings in Brussels with officials of the European Commission and the European Payments Council, Governor of the National Bank of Moldova, in the context of the growing importance of the single European currency in the currency flows of Moldova's economy, mentioned the possibility of a natural transition to the EUR base currency, which would be beneficial for the Moldovan population and business environment. It was said that these discussions reflect the NBM's willingness to maintain financial stability, thus consolidating Moldova's European path and emphasizing the NBM's vital role in preparing the country for the EU accession. // 12.11.2024 - InfoMarket
