RESOLUTION OF ADMINISTRATIVE BOARD OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of January 15, 2009 No. 3

About approval of Regulations about establishment of the official rate of Moldovan leu in relation to foreign currencies

Based on Articles 11, 51 and 52 Laws on National Bank of Moldova No. 548-XIII of July 21, 1995. (The official monitor of the Republic of Moldova, 1995, Art. No. 56-57, 624), with subsequent changes and amendments, articles 39 and 67 of the Law on currency control No. 62-XVI of March 21, 2008. (The official monitor of the Republic of Moldova, 2008, Art. No. 127-130, 496) DECIDES: Administrative board of National Bank of Moldova

1. Approve Regulations about establishment of the official rate of Moldovan leu in relation to foreign currencies it (is applied).

2. Recognize invalid the Instruction about the procedure of forming, distribution and archiving of the official rate of Moldovan leu approved by the Decision of Administrative board of National Bank of Moldova No. 399 of December 23, 1999. (The official monitor of the Republic of Moldova, 2000, Art. No. 1-4, 8), with subsequent changes and amendments.

Approved by the Resolution of Administrative board of National Bank of Moldova of January 15, 2009, No. 3

Regulations about establishment of the official rate of Moldovan leu in relation to foreign currencies

Chapter I. General provisions

1. In Regulations about establishment of the official rate of Moldovan leu in relation to foreign currencies (further - Regulations) the concepts determined by the Law on currency control No. 62-XVI of March 21, 2008 are used. Also for the purpose of these regulations the following concepts are used:

a) the transaction of purchase/sale - any transaction between bank of the Republic of Moldova (The National Bank of Moldova licensed by bank) and the legal entity (including other bank) or physical person in which one of the parties buys or sells foreign currency amount for Moldovan lei both amounts are delivered for the stipulated value date and by the established currency rate;

b) the transaction of purchase/sale in the intra banking foreign exchange market - the transaction of purchase/sale between bank of the Republic of Moldova (The National Bank of Moldova licensed by bank) and the legal entity (except for other bank) or physical person;

c) the transaction of purchase/sale in the interbank foreign exchange market - the transaction of purchase/sale between bank of the Republic of Moldova (The National Bank of Moldova licensed by bank) and other bank (the resident or the nonresident);

d) quoting of Moldovan leu - establishment of the national currency rate in relation to foreign currencies.

The concepts "transaction spot", "transaction forward" and "currency transaction swap" have the values determined by the Regulations about implementation of transactions in the interbank foreign exchange market approved by the Resolution of Administrative board of National Bank of Moldova No. 8 of January 24, 2013, Monitorul Oficial al Republicii Moldova, 2013, No. 36-40, of Art. 234.

2. These regulations establish:

a) the list of foreign currencies in relation to which the National Bank of Moldova quotes Moldovan leu;

b) method of determination of the official rate of Moldovan leu in relation to foreign currencies;

c) provisions concerning distribution by National Bank of Moldova to licensed banks, the general public of the official rate of Moldovan leu in relation to foreign currencies by means of various intermedia;

d) procedure for representation by licensed banks to National Bank of Moldova for the reporting on transactions of purchase/sale.

Chapter II. The list of foreign currencies in relation to which the National Bank of Moldova quotes Moldovan leu

3. The National Bank of Moldova quotes Moldovan leu in relation to the foreign currencies specified in appendix No. 1 to these regulations.

4. Names of foreign currencies, their digital and alphabetic codes are specified in appendix No. 1 to these regulations according to the international standard ISO 4217 "Codes for representation of currencies and funds" ("Codes for the representation of currencies and funds") approved by the Decision of Institute of standardization of Moldova No. 136 of June 14, 2018.

5. The list of foreign currencies in relation to which the National Bank of Moldova quotes Moldovan leu can be reviewed as necessary.

Chapter III. Method of determination of the official rate of Moldovan leu in relation to foreign currencies

6. The official rate of Moldovan leu to US dollar is determined by National Bank of Moldova based on information on amounts of transactions spot by purchase/sale of US dollars for Moldovan lei and about the currency rates applied by licensed banks and National Bank of Moldova in these transactions reflected in the Report on the amounts of foreign currency purchased and sold by bank for Moldovan lei (further - the report).

7. In case of determination of the official rate of Moldovan leu to US dollar the method of calculation of arithmetic-mean value of the weighted average prevailing buying rates and sale with accounting of amount of the transactions spot on purchase/sale performed in the currency interbank and intra bank markets of the Republic of Moldova between 12:30 previous day and 12.30 reporting days is used. For the Saturday days announced by the order of the Government in the working days, transactions of purchase/sale of the corresponding day join in the report of the next working day.

8. The report is constituted by licensed banks and National Bank of Moldova according to the form and procedure for its filling specified in appendix No. 2 to these regulations and shall include information on transactions of purchase/sale irrespective of their type (spot, the forward, currency swap, etc.). Licensed banks submit to National Bank of Moldova the report each working day from 12:30 till 15:00.

8-1. Licensed banks submit to National Bank of Moldova the report by means of the Automated interbank payment system.

8-2. If in the report submitted present working day mistakes were revealed, the bank shall transfer the repeated report with necessary corrections no later than 15:45 the present working day.

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