Commemorative coin from the series “Personalities”, in circulation since October 20, 2014.

Commemorative coin from the series "Alley of Classics” from "Stefan cel Mare " Public Garden of Chisinau municipality”, in circulation since October 20, 2014.

Commemorative coin from the series "Alley of Classics” from "Stefan cel Mare " Public Garden of Chisinau municipality”, in circulation since October 20, 2014.

National Bank of Moldova issued new six commemorative coins on 20 October 2014, minted in silver, as legal tender and for numismatic purpose.

National Bank of Moldova issued new six commemorative coins on 20 October 2014, minted in silver, as legal tender and for numismatic purpose.

Tier I capital reached the level of MDL 8107.8 million as on 30 September 2014 and increased by 2.3 percent compared to the end of the last year. This development was largely determined by the profit on the system in the nine months of the year and the share issues at three banks.

Rata medie ponderată a dobânzii la creditele noi acordate în moneda naţională în luna septembrie 2014 a constituit 10.97 la sută, diminuându-se cu 0.82 puncte procentuale faţa de perioada respectiva a anului precedent.

In August 2014, average interest rate on new term deposits attracted in national currency was 6.45 percent, decreasing by 0.73 percentage points compared to August 2014.

The non-cash foreign exchange market of the Republic of Moldova is determined by the turnover of purchase/sale transactions of the foreign currency that have taken place on different segments of the market, except those performed by the National Bank of Moldova.

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The activity of the NBM on the foreign exchange market (foreign exchange interventions) is performed in strict compliance with the monetary and foreign exchange policy objectives.

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Direct inflation targeting is the monetary policy strategy through which the NBM sets a target for the inflation rate over a given period to be achieved using monetary policy instruments and measures.

Acting as fiscal agent of the State, the NBM organizes the functioning of an over-the-counter secondary market of state securities and collects information regarding the elements of transactions with state securities on the secondary market.

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The SS market of the Republic of Moldova is organised through via banks – Primary Dealers, which have concluded with the National Bank of Moldova (NBM) agreements on fulfilling the functions of a Primary Dealer in the market of state securities.

The average interest rates are rates for state securities placed on the primary market.

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After the end of state securities issuance auctions, on the same day, the NBM shall inform the participants about the total results of the auction and publish the Communique on the web-page. The Ministry of Finance also publishes this Communique on the web-page.

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Open market operations are the most important monetary policy instrument of the NBM.

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To  receive  credits  from  the  National  Bank  of  Moldova  (NBM)  bank  shall  place  at  NBM  eligible  collateral  in  an  amount sufficient to cover the total value of credits extended by NBM, interest and other related payments.

According to the data published by the National Bureau of Statistics (NBS), in August 2014, the consumer prices index (CPI) for the last 12 months constituted 5.1 percent, decreasing by 0.2 percentage points versus the previous month, being maintained within the range of variation of ± 1.5 percentage points from 5.0 percent inflation target.

The main monetary policy instruments available to the National Bank pursuant to the regulations in force are: money market operations, interbank market operations, standing facilities and required reserves.

The cash foreign exchange market`s turnover comprises all operations of purchase and sale of foreign currency against Moldovan Leu performed in cash with individuals by the foreign exchange entities.

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The information on the foreign exchange assets and liabilities of the licensed banks is compiled based on the reports on the bank's foreign exchange position submitted by the licensed banks.

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In August 2014 the monetary base was MDL 26616.9 million, decreasing by MDL 420.6 million (1.6 percent) compared to July 2014.