The depreciation of the Moldovan leu against the main foreign currencies will cause a rise in prices in the medium and long term, especially of the imported products. Natan Garstea, director of the Rating and Assessment Agency “Estimator-VM”, has told IPN that the situation created on the currency market will lead to a higher cost of living.

The exporters gain benefits from the depreciation of the leu because the products sold in foreign currency abroad bring them now more lei. At the same time, the importers sustain losses because the products sold abroad cost more on the home market. Those whose expenses are expressed in currency, as for example the rent, also sustain losses.

“In the medium and long term, we will witness a rise in prices. The higher prices of gas and electricity will affect us all. The imported products will also grow dearer and the cost of living will increase. Those who took out loans in foreign currency have to monthly pay higher rates. The deposits in lei also depreciate,” said Natan Garstea.

The expert urges the persons who do not have to make payments in foreign currency to stay calm and keep their savings in lei. Surely, it is also advantageous to have reserves in foreign currency.

The situation on the market depends on the actions taken by the National Bank. Natan Garstea believes that the institution has enough instruments to cope with the situation and to stop the depreciation of the national currency.

For January 22, the central bank set an exchange rate of 19.98 lei per euro and of 17.26 lei per dollar. At currency exchange facilities and banks, the euro costs over 20 lei, while the dollar – almost 17.50 lei.