The peak in the devaluation of national currency and the speculation spirits is observed on the foreign currency market but these spirits will expire by the end of the week
This is the opinion by number of the experts the InfoMarket reporters addressed to. During the latest months the Leu devaluation is observed on the foreign currency market and its exchange rate constituted 12.5 per $1. But from the end of the last week the devaluation acquired a more considerable spasmodic character: the average purchasing rate was increased from 13.25 MDL per $1 on Friday 13.72 MDL per $1 on Wednesday. The banks sell the non-cash foreign currency on the average at 13.5 MDL per $1 and 17.5 MDL per €1. The experts note that the situation is provided by the mass media, threatening with an upcoming crisis in the RM national economy. Because of Russia’s ban on the import of the Moldovan. It is whipped up by the Euro strengthening on the world markets – from $1.277 on Friday to $1.284 per €1 on Wednesday. It causes the growth of the Euro rate from 17 MDL to 17.5 MDL per €1. There are prerequisites for it, but the NBM received recently $17 million from the IMF and it buys actively foreign currency itself .In the period from May 5 to 12 the NBM foreign currency reserves were increased by $26.7 million or by 4.3% and reached $643.2 million. It allows assuming that the MDL rate against Dollar will be kept at the same level», - the experts consider. In any case a certain stabilization must be at the end of the week – «the speculation dealers will be tired and the transfers from the guest workers are not decreased and they consist at least 1 billion Euro a year». Reportedly the NBM denied the reporting on the RM’s upcoming default, called upon the participants in the foreign currency market to abstain from speculation and offered a swat to the commercial banks to meet the increased foreign currency demand in order to weaken the foreign currency fluctuation rate.