OREANDA-NEWS. September 29, 2009. Under the official exchange rate of 11.3935 leis per 1USD and 16.8272 leis per 1 EUR, the exchange rate of sale of currency reached 12.5 leis per 1USD and 18,3 leis per 1 EUR.

The increased currency demand has resulted in the sharp change of the official rate set by the National Bank on Monday, September 28 - 11.5445 and 16.9670, respectively. The experts note that the currency market of Moldova was shattered by cheapening of dollar against euro at the global markets. In April, the ratio of these rates was 1.29, in July - 1,39; in late August - 1,42 and on September 22- 1,48, respectively.

This resulted in appreciation of euro against the Moldovan leu. Another factor was acquisition of foreign currency at the domestic market. As InfoMarket agency found out, the demand for euros has sharply increased resulting in the extremely high currency demand. According to some observers, in future the big deal at the market will be concluded and the seller of the Moldovan assets will be the foreign investor.

A number of experts agree that speculation was also stimulated by information about resignation of the NBM’s President Leonid Talmaci in connection with the expiry of his powers on Friday. The analysts also point out the fact that cheapening of leu in September-November has the seasonal nature- farmers sell their products and many of them buy currency.

As the Vice-Premier, the Minister of Economy Valeriu Lazar has noted on Friday, the government would not affect the leu exchange rate and will hold consultations with the NBM’ s experts. "We are interested in the assistance of NBM’ s colleagues to better understand what is happening, but we do not intend to interfere, we support the autonomy of the National Bank", - said Lazar. He also noted that if there are objective reasons for devaluation of leu, the government will be very careful to ensure the stability of the national currency.

Most analysts and observers agree that the sharp surge of the national currency has a speculative nature, which is proved by the huge margin set by the banks and exchange offices between purchase and sale of currency, which reach 6% (euro) and 9% (USD).