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Economy / Moldova

Moldova

February 2010 | Ratings Update

The Moldovan has depreciated further since the sell-off back in December 2009 when the currency fall from MDL11.30/US$ to MDL12.27/US$. Indeed, the currency has weakened to MDL12.84/US$ as of February 26. Economic fundamentals continue to look poor over the medium term, with remittances likely to remain subdued over the course of 2010. Nonetheless, we expect the currency to strengthen modestly towards the end of the year and hold to our forecast for appreciation towards MDL12.5/US$ by end-2010

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