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Schedule of reception of citizens by the Executive Board of the National Bank of Moldova.
The registration of applicants for an audience is carried out based on a written request on the subject addressed.
Anca Dragu, Governor
1st Wednesday of the month: 14.00-16.00;
Telephone: +373 22 822 606.
Vladimir Munteanu, First Deputy Governor
2nd Wednesday of the month: 14.00-16.00;
Telephone: +373 22 822 606.
Tatiana Ivanicichina, Deputy Governor
3rd Wednesday of the month: 14.00-16.00;
Telephone: +373 22 822 607.
Constantin Șchendra, Deputy Governor
4th Wednesday of the month: 14.00-16.00;
Telephone: +373 22 822 607.
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National Bank and the members of its decision-making bodies shall be independent in exercising the tasks conferred upon them by law, and shall neither seek nor take instructions from public authorities or from any other authority.
In order to ensure and maintain price stability over the medium term, the National Bank’s aim will be to keep inflation (measured by Consumer Price Index) at the level of 5.0 percent annually with a possible deviation of ± 1.5 percentage points, considered to be optimal for growth and development of Moldova's economy over the medium-term.
National Bank shall have the exclusive right to issue on the territory of the Republic of Moldova banknotes and coins as legal tender, as well as commemorative and jubilee banknotes and coins as legal tender and for numismatic purposes.
National Bank is exclusively responsible for the licencing, supervision and regulation of financial institutions activity.
National Bank of Moldova acts as banker and fiscal agent of the State and shall receive from state bodies economic and financial information and documents, which are necessary for carrying out its tasks.
National Bank of Moldova supervises the payment system of the Republic of Moldova and promotes a stable and efficient functioning of the automated inter-bank payment system
National Bank of Moldova is an autonomous public legal entity and is responsible to the Parliament.
National Bank shall inform the public on the monetary policy strategy on the results of the macroeconomic analysis, the evolution of the financial market and on statistics, including with regard to monetary supply, crediting, balance of payments and the state of the foreign exchange market.
National Bank of Moldova is responsable for the compilation of the balance of payments, international investment position and the statistics of the external debt of the Republic of Moldova.
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Inflation Report no.3, August 2012
Nominal Effective Exchange Rate and Real Effective Exchange Rate are commonly used as indicators of external competitiveness.
Nominal Effective Exchange Rate is calculated as a weighted average of bilateral nominal exchange rates of national currency against foreign currencies. At the same time, conceptually, the Real Effective Exchange Rate is defined as a weighted average of a country's currency against a basket of other major currencies adjusted to the effects of inflation. The foreign currencies weights in the basket are calculated based on the trade balance of the Republic of Moldova, the main partners being Romania, Russian Federation and Ukraine. In total, the currencies of 17 countries are included in the calculation of nominal and real exchange rates. The base period is considered to be December 2000.
According to the methodology of calculation, the nominal effective exchange rate can be written as:
where:
Real Effective Exchange Rate can be written as:
where:
Thus, according to the Chart no.4.14, compared with March 2012, there was recorded an appreciation of the MDL in both nominal and real terms. The REER growth was mainly determined by the nominal appreciation. This evolution involves the reduction of the competitiveness of domestic goods relative to Moldova’s trading partners. It should be mentioned that these indicators reflect only the price competitiveness. Chart no.4.15 shows, for example, that the Russian ruble depreciation against the U.S. dollar determined the decrease of prices of Russian products expressed in U.S. dollars. At the same time, prices for Moldovan products, also expressed in U.S. dollars, remain at the same level.
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