NBM overcomes inflation by consolidating the leu
The US dollar's rate of exchange against the Moldovan leu currency has gone down 3.5% last couple of weeks - to MDL12.40 : US$1 from 12.85 MDL previously.
Currency market analysts are saying that last Friday, the National Bank of Moldova bought up the surplus of currency with the purpose to slow down the leu's natural consolidation. They say if you sell US$ currency in the beginning of this period and after that you buy it back, you can have profits in US$ to the amount of about 84%.
According to the analysts, the NBM understood that if it ignores its own participation in the currency market, the dollar would cost after the weekend about 12.30-12.35 lei. All weekend market participants were waiting that the NBM would continue buying currency next week, that is why the US$ currency did not drop for the weekend. However, the Bank stayed indifferent to the market disturbances, and dollar-lei couple continued to fall.
Last Tuesday afternoon, the rate of exchange on the inter-bank currency market was about MDL 12.3 : US$1. On Wednesday, people could buy US$ for 12.35 lei.
Credit-Profit financial company analysts say that the NBM is trying to bring inflation down by lei consolidation.
Infotag
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