Currency famine is caused by the uneven growth of demand and supply of foreign currency. The National Bank reports that compared to the previous month, the net supply of foreign currency from individuals increased by 29.4 million euros (+11.4%), while net demand for foreign currency from economic entities increased by 41.7 million euros (+13.5%).
In this situation, the NBM had to close the deficit by net sale of EUR 33 million on the local interbank market, in order to stabilize the exchange rate of the national currency.
Meanwhile, in October, an increase in foreign currency transfers received from abroad in favor of individuals was registered. The equivalent of $152 million was received, up from $143 million in September. Since the beginning of the year, in total, the decline in receipts has been overcome, compared to the corresponding period of 2024, and a slow growth has begun.
Whether the recorded growth of currency receipts to the population is related to Moldova’s accession to the European payment system SEPA, which resulted in the “brightening” of remittances, the National Bank does not inform. The increase occurred only due to the growth of receipts in euros, while in U.S. dollars there is still a decrease in volumes.
