Attestation committee
Accreditation committee
Expert committee
Dispositions, instructions
Normative acts
Scientific councils
Scientific advisers
Doctoral students
Postdoctoral students
CNAA logo

 română | русский | english

Currency risk management in the banking system of the Republic of Moldova

Author: Natalia Ştefîrţă
Degree:doctor of economics
Speciality: 08.00.05 - Economy and Management (in branch)
Scientific adviser: Victor Ciobanu
Scientific council:


The thesis was presented on the 3 March, 2006
Approved by NCAA on the 27 April, 2006


Adobe PDF document0.32 Mb / in romanian


CZU 336.748:339.743(043.2)

Adobe PDF document 0.75 Mb / in romanian
129 pages


planning the foreign currency departament, organising the forign currency departament, monitoring the foreigncurrency departament, control of the exchange rate risck, financing the exchange rate risk, obligations of the exchange rate risk, performance of the exchange rate risk, currency risck, exchange rate, correlation analysis, regressive analysis, technical one the prohnostication, monetary policy, fiscal policy, currency position, currency portofolio, currency risck management


The evolution of the currency risck management is influenced by a multitude of factors, such as: inflation, environment influence upon the banking system, weak points or the limits of the control, functions, forecast, plannig, organization, coordination, which involve a continuons research in order to find out new technologies, information and solutions.

In the present thesis the author analysed the economical decisions in the case of an incertain future. In the international financial–monetary environment the uncertainty is caused by the nature and the consequences of the fluctuating rates, through the management functions. In order to remove or, at least, to minimize the negative effects of the currency risk, it is important to know how to manage with the mechanism of settling the rate of exchange of the moldovan “leu” under the influence of the economical, monetary, financial, social and political factors. The economy sensitiveness to the modification of the valuable dimensions of the monetary standards put the dilemma of the currency risk management in front of the central monetary authorities. The main problems are the administrativ on of the monetary potential and the evaluation of the currency risk for the bank institution in the Republic of Moldova, efficient planning and organization of the currency management, as part of the bank institution, efficiency of the informational and communicative system, as factors of success in the currency risk management.

The bank strategy, is the base for planning and organization of the currency sector as part of the bank instution of the Republic of Moldova, but the function of control and financing being characterized by book performonce, finoncial prudential norms that regulate the, setlling the balance structures. In this paper, there have been analysed similar aspects, theoretically and practically grounded, and some suggestions of optimization, dealing with the corrlation of the management decisions at macroeconomic level within the national banking system.

In this thesis, are emphasized the possibilities to improve the currency risk management in the Republic of Moldova on the mezoeconomic level. There has been made a practical analysis on the base of some data from a certain “X” commercial bank. The settlement of a risk management strategy is important for bank . It includes a variety of problems, starting with the monitoring, the performances and ending with the evalution of it dimensions.

Elaborations and reseorchers included in this paper could be considered by students, bank staff and others interested in this field largely discussed in the Republic of Moldova.