Macroeconomic Forecast Moldova

The Moldovian leu continues its upward move against the dollar. To some extent this represents the repricing of the dollar on a global basis, with only a handful of currencies losing ground against the greenback. We forecast MDL/US$ will end 2007 at MDL11.80/US$, and move towards MDL11.50/US$ by December 2008. Against the euro, the unit has been struggling to make the same headway, although a move towards an eighteen month high in the MDL15.60/EUR area could well be on the

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