The national currency has appreciated by 9.4% against the US dollar and by 4.2% against the euro during January-May 2008.

According to the National Bank of Moldova, the main factors that contributed to the appreciation of the Moldovan leu were the considerable rise in the inflow of foreign currency and the depreciation of the US dollar on the international currency markets.

In order to prevent the excessive appreciation of the national currency over January-May, the central bank purchased foreign currency worth US$509.1 million from the interbank currency market, amount that is by 5.7 times higher compared with the corresponding period last year.

As a result, the foreign currency reserves rose about 1.7 times, totaling US$1.45 billion at the end of May.// Reporter.MD


Publication date: 03 July 2008   

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