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Moldovan National Bank Warns Against Currency Panic

CHISINAU -- The Moldovan National Bank has asked the country's institutions to "refrain from unwise decisions" that could hurt the national currency, the leu, RFE/RL's Moldovan Service reports.

The leu has been dropping in value against the U.S. dollar and the euro in recent days.

In a statement on March 12, the bank warned the media and economic analysts to stop misleading the public into thinking that the national currency is in danger.

The bank said such speculation is behind the leu's recent decline because the rumors triggered a higher demand for hard currency.

Analysts in Chisinau told RFE/RL that Moldovan authorities are afraid that people will rush en masse to change their savings into dollars or euros.

Moldova's ruling Communists are facing a parliamentary election on April 5 and have built most of their campaign on the country's relative stability over the last few years.

But many Moldovans believe the government is losing its grip on the economy.