{"id":406381,"date":"2014-12-10T01:19:45","date_gmt":"2014-12-09T23:19:45","guid":{"rendered":"http:\/\/www.moldova.org\/?p=406381"},"modified":"2014-12-10T01:19:45","modified_gmt":"2014-12-09T23:19:45","slug":"ex-prime-minister-of-moldova-ion-sturza-the-mdl-has-undergone-unprecedented-speculative-attack","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/ex-prime-minister-of-moldova-ion-sturza-the-mdl-has-undergone-unprecedented-speculative-attack\/","title":{"rendered":"Ex-Prime Minister of Moldova Ion Sturza: The MDL has undergone unprecedented speculative attack"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

He says that NBM\u2019s currency reserves fell to 283.35 million USD in November, and at the beginning of the year to 454 mil. USD. Only in the last week before the election, their reduction was 177 mil. USD.<\/p>\n

“Obviously, MDL has undergone by an unprecedented speculative attack. National Bank reacted immediately panicked and shortsighted, massive selling the reserves of foreign currency. Even in specialized textbooks for \u201cnovices\u201d is described how to act in such cases. We use:<\/p>\n

1. Moderate interventions;<\/p>\n

2. Anticipated monetary sterilization, including by raising reserve requirements for banks; Money is a commodity, math is clear: supply (MDL) is smaller, but the demand is greater;<\/p>\n

3. Administrative penalization of speculators.<\/p>\n

\u201cPerhaps BNM does not know this fact or someone has based on this turbulent phenomena associated with elections and took massive currency out off the country, including clients\u2019 deposit accounts ?!<\/p>\n

Mr. Dragutanu will tell us once again that his “target” is inflation … But we gentleman, why hired him as a “guard” over the country’s foreign exchange reserves ?! This is a rhetorical question because where is the folly\u2026. You know what there is\u2026<\/p>\n

PS In anticipation, I warned about these things this summer. But it seems that those from NBM neither use FB nor press read. They do anti-inflationary strategy, “explains Ion Sturza.<\/p><\/blockquote>\n

We are reminding that the USD has had a new record recently in our country. Thus, according to the exchange rate set by NBM for today, one USD dollar is worth 15, 22 MDL\u00a0and the EUR – 18, 66.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>He says that NBM\u2019s currency reserves fell to 283.35 million USD in November, and at the beginning of the year to 454 mil. USD. Only in the last week before the election, their reduction was 177 mil. USD. “Obviously, MDL has undergone by an unprecedented speculative attack. National Bank reacted immediately panicked and shortsighted, massive […]<\/p>\n","protected":false},"author":7,"featured_media":382151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-406381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

He says that NBM\u2019s currency reserves fell to 283.35 million USD in November, and at the beginning of the year to 454 mil. USD. Only in the last week before the election, their reduction was 177 mil. USD.<\/p>\n

“Obviously, MDL has undergone by an unprecedented speculative attack. National Bank reacted immediately panicked and shortsighted, massive selling the reserves of foreign currency. Even in specialized textbooks for \u201cnovices\u201d is described how to act in such cases. We use:<\/p>\n

1. Moderate interventions;<\/p>\n

2. Anticipated monetary sterilization, including by raising reserve requirements for banks; Money is a commodity, math is clear: supply (MDL) is smaller, but the demand is greater;<\/p>\n

3. Administrative penalization of speculators.<\/p>\n

\u201cPerhaps BNM does not know this fact or someone has based on this turbulent phenomena associated with elections and took massive currency out off the country, including clients\u2019 deposit accounts ?!<\/p>\n

Mr. Dragutanu will tell us once again that his “target” is inflation … But we gentleman, why hired him as a “guard” over the country’s foreign exchange reserves ?! This is a rhetorical question because where is the folly\u2026. You know what there is\u2026<\/p>\n

PS In anticipation, I warned about these things this summer. But it seems that those from NBM neither use FB nor press read. They do anti-inflationary strategy, “explains Ion Sturza.<\/p><\/blockquote>\n

We are reminding that the USD has had a new record recently in our country. Thus, according to the exchange rate set by NBM for today, one USD dollar is worth 15, 22 MDL\u00a0and the EUR – 18, 66.<\/p>\n

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