The National Bank of Moldova published updated statistics and methodological notes on its activity in the foreign exchange market, explaining how it conducts and reports foreign exchange operations and showing that the latest reported activity was limited to FX swaps rather than spot interventions. The release distinguishes between direct spot purchases or sales of foreign currency against Moldovan leu (MDL), which affect the money supply, and adjustment operations via FX swaps, described as reversible instruments that do not have a long-term impact on the money supply. The published figures show zero spot purchases and sales on the interbank market, while FX swap activity consisted of purchases of US dollars totalling EUR 4,866.9 thousand (EUR-equivalent) and no swap sales; the National Bank of Moldova also reports that it did not conduct any forward operations. Transactions are reflected on the trade date, EUR and USD equivalents are calculated using monthly average exchange rates, and swap volumes are reported as a daily weighted average based on the swap term (for example, a EUR 10 million 15-day swap in a 30-day month is reflected as EUR 5 million).
National Bank of Moldova 2025-05-21
National Bank of Moldova publishes FX market statistics showing EUR 4,866.9 thousand in FX swap purchases and no spot or forward operations
The National Bank of Moldova released updated statistics and methodological notes on its foreign exchange market activities, highlighting a focus on FX swaps rather than spot interventions. The report shows zero spot purchases and sales, with FX swap purchases of USD totaling EUR 4,866.9 thousand and no swap sales. No forward operations were conducted, and transactions are reported using monthly average exchange rates.