Margin at Moldova currency market went down to minimum
The margin at the currency market of Moldova has narrowed to minimum, due to which the difference between the U.S. dollar exchange selling rate and purchasing rate went down to 0.03 lei.
On Tuesday, many currency exchange offices (as banking, so independent) were selling the cash U.S. dollar at the ratio of MDL12: US$1.
Specialists of the currency market said that Moldindconbank was actively buying up cash U.S. dollars through its chain of exchange offices at the ratio of MDL11.97: US$1.
Traditionally, the margin level lowering almost to the limit shows the balance established at the currency market. But, according to experts of the Credit-Profit, it shows, in this case, the desire of the bank to satisfy the client demand (supposedly of Moldovagaz) on U.S. dollars and only at the expense of own resources.
"It means at the least prime cost and, maybe, the least price. One can suppose the bank, probably, enlisted the support of the National Bank of Moldova (NBM) for buying, in case of necessity, the missing currency amount. In this case, the Moldovan leu rate will continue strengthening next days. But, if the client demand is not satisfied, the leu currency will, on the contrary, depreciate against the [U.S.] dollar", the company experts said.
It has been confirmed for many times already that the leu depreciation is immediately followed by the appreciation. For this time, neither the Government, nor the NBM will allow its progressing.
"Thus and so, it is probably to expect the banks' demand on currency, which has no speculative character, will be immediately satisfied by the market regulator", the experts said.
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