Moldovan leu reaches five-year high

The Moldovan leu started 2020 at a five-year high, reaching the level of 18.28 against the EURO&USD currency basket. The leu appreciated less against the US dollar, but improved considerably its value against the euro, economist Veaceslav Ioniță, expert of the Institute for Development and Social Initiatives “Viitorul”, posted on Facebook, being quoted by IPN.

The expert noted that the behavior of the Moldovan leu in 2019 was dissimilar to that of 2018. In the first half of 2018, it appreciated continuously and then started to depreciate. In 2019, the situation was completely different. The leu initially appreciated considerably and then depreciated during a number of months.

For 2020, the expert recommends the National Bank to avoid the situation of 2019, when the national currency appreciated and depreciated suddenly. “The central bank does not aim to maintain the exchange rate at a particular level, but it is definitely obliged to avoid situations of stress on the currency market,” stated Veaceslav Ioniță.

The economist said the foreign exchange reserves of over US$ 3 billion enable the National Bank of Moldova to ensure a moderate fluctuation of the exchange rate and not to allow currency shocks on the market.

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