In July 2026, the net demand for foreign currency from economic agents in Moldova was almost entirely covered by the net supply from individuals—the ratio stood at 100.2%. This allowed the regulator to avoid foreign exchange interventions in the local interbank market.
Net foreign currency sales by individuals increased by 75.6 million euros (+22.7%) compared to the previous month. Business demand (net demand from legal entities) increased by 64.0 million euros (+18.6%). This may indicate not so much an inflow of foreign currency into the country as a decline in economic activity and, consequently, in demand.
According to data from the National Bank of Moldova (NBM), the coverage of legal entities’ net demand for foreign currency by net supply from individuals rarely amounts to exactly 100% or more, as was the case in July; —it usually fluctuates between 80% and 97%.
For example, in June, coverage stood at 96.9%, while in the corresponding periods of previous years, the figures were 79.9% (in July 2025) or 89.8% (in July 2024), with the shortfall being offset by market mechanisms and reserves without a deficit.
