Moldovan Leu Currency Guide and Facts

The Moldovan leu is the official currency of Moldova, a country located in Eastern Europe. It's a fascinating currency with a rich history.

The Moldovan leu was introduced in 1993, replacing the Soviet ruble. This marked a significant milestone in Moldova's transition to independence.

One leu is divided into 100 bani, although bani are no longer in circulation. This is an interesting fact that shows how the leu has evolved over time.

To give you a better idea of the leu's value, the exchange rate is approximately 18.5 lei to 1 euro. This can vary depending on the current market conditions, but it's a good starting point for travelers.

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The Moldovan leu has a rich history, despite being a relatively new currency. It was introduced in 1993.

The leu is subdivided into 100 bani, but most transactions are done in leu.

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Moldova's currency, the leu, has a relatively short history, only being introduced in 1993, two years after the country gained independence. This was a significant change from the "cupon" currency that was used previously, which had the same value as the Soviet ruble.

The leu took its place as the official currency of Moldova, replacing the temporary cupon. This marked a new era for Moldova's economy.

Interestingly, Moldova's currency shares a history with two other currencies, the Romanian leu and the Bulgarian lev. They all get their name from the same source.

Both the Romanian leu and the Bulgarian lev have a similar structure to the Moldovan leu, with the Romanian leu using the same subunit, the ban. The lev, on the other hand, consists of 100 stotinki.

Moldova briefly used the Romanian leu when it was part of Romania, which is a fascinating piece of history. This shared history is a testament to the country's complex past.

In 2024, both Romania and Bulgaria will be switching to the euro, leaving the Moldovan leu as the last remaining currency on this family tree. This highlights the unique position of the Moldovan leu in the world of currencies.

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Moldova's currency uses the MDL code and features the letter "L" as its symbol. Each leu is divided into 100 bani.

The central bank of Moldova introduced intaglio printing as a security feature in 2015. This is in addition to watermarks, security threads, and other anti-counterfeiting techniques used to prevent counterfeiting.

Moldovan banknotes come in nine denominations, all featuring Ștefan cel Mare, who ruled Moldavia between 1457 and 1504. Here are the banknote denominations:

Moldovan coins also come in nine denominations, including the 1-ban coin, although it's not very valuable in practice.

The name of a currency can tell you a lot about its history and significance. The United States dollar, for example, is named after the country it represents.

The British pound, on the other hand, is named after the British monarchy, with "pound" referring to a unit of weight. This is a nod to the currency's origins in medieval England.

The euro, used by 19 of the 27 countries in the European Union, is named after the Latin word for "Europe."

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Moldova uses the MDL currency code and the letter "L" as its symbol, with each leu consisting of 100 bani.

The central bank of Moldova introduced intaglio printing as a security feature in 2015, and also uses watermarks, security threads, and other anti-counterfeiting techniques.

Moldova has nine banknotes, all featuring Ștefan cel Mare, who ruled Moldavia between 1457 and 1504. These banknotes come in various denominations.

Here are the nine banknote denominations:

The State Mint of Romania produces most of the coins used in Moldova, which come in nine denominations as well.

The Moldovan leu is the official currency of Moldova, and you can exchange it for other currencies, such as the Aruban guilder (AWG), Hong Kong dollar (HKD), Malagasy ariary (MGA), or Romanian leu (RON).

You can check the current value of 1 MDL using an online currency converter, which is useful for travelers or businesses that need to exchange money.

The National Bank of Moldova oversees the country's monetary policy to keep inflation low, but the value of the Moldovan leu can still fluctuate against other currencies from year to year, with a GDP of about $14 billion.

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Banknotes have a unique history in Moldova. The country has had two series of leu banknotes, with the first series being short-lived and only featuring 1, 5, and 10 lei.

The front of all Moldovan leu banknotes feature a portrait of Ștefan cel Mare, the prince of Moldavia from 1457 to 1504. The first two lines of the Miorița ballad appear on the back, printed vertically between the denomination numeral and the vignette of the fortress.

Each banknote has a unique dimension, ranging from 114 × 58 mm to 133 × 66 mm. The main color of each banknote varies, with yellow, cyan, red, green, pink, orange, purple, and blue being the main colors.

A summary of the second series of Moldovan leu banknotes is as follows:

The front side of each banknote features only one man - Ștefan cel Mare.

The Moldovan Leu operates under a floating exchange rate system, which means its value relative to other currencies fluctuates based on supply and demand in the foreign exchange market.

The National Bank of Moldova may intervene in the market to manage the exchange rate and maintain stability, particularly in relation to major trading partners’ currencies like the Euro and the Russian Ruble.

You can check the current value of 1 MDL using an online currency converter.

The value of the Moldovan Leu can fluctuate against other currencies from year to year due to the country's economy being based around agriculture, food processing, and exports.

Here's a snapshot of current MDL exchange rates for various currencies:

Beware of bad exchange rates, as banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate.

In Moldova, it's mostly a cash-based economy, so having some leu on hand is a must.

You can pay with a credit card in Chisinau, the capital, but it's less likely in rural areas.

Exchanging your home currency for EUR or USD before arriving in Moldova can get you the best rates, and then you can exchange that for leu.

The Moldovan leu has strengthened against reference currencies, but this isn't necessarily a good thing for the economy.

The euro fell by 0.23 lei and the US dollar by 0.04 lei against the Moldovan leu on Monday.

This means that exported goods are being sold at a lower price, reducing the income of entrepreneurs.

The Moldovan leu has appreciated by 40% against reference currencies in recent months, which is leading to stagnation in wage growth.

Economic agents have excess financial resources on their current accounts, totaling 16 billion lei, which are not being used in the national economy.

It's essential to manage your income to create reserves, without going to extremes, as advised by the National Bank of Moldova.

If you have expenses in lei, it's best to save in lei, and if you have expenses in foreign currency, like the euro, it's probably a good idea to save some in euro as well.

Moldova has a cash-based economy, so it's essential to have some leu on hand when visiting.

Paying with a credit card may be an option in Chisinau, the capital, but less so in rural areas.

You'll likely need to exchange your money once you arrive in Moldova, as it isn't easy to obtain leu outside of the country.

Converting your home currency into EUR or USD and then exchanging that for Moldovan currency may get you the best rates.

You may have a hard time exchanging other currencies in Moldova, so be sure to check the latest currency rates before traveling.

Transnistria is a different story, where you won't be able to spend Moldovan currency or withdraw money from an ATM.

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The second series of lei coins was introduced in 2018, and it's been a game-changer for the Republic of Moldova's currency.

The new coins were designed to be more durable and cost-effective than banknotes, with the NBM announcing plans to reintroduce 1 and 5 lei coins alongside new 2 and 10 lei coins.

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The design of the new coins features elements of both the coat of arms of the Principality of Moldavia and the Republic of Moldova, with the 1 and 2 lei coins made from nickel-plated steel and the 5 and 10 lei coins featuring a bi-metallic design.

The new coins were put into circulation on February 28, 2018, and are currently used alongside banknotes of equal value.

Here are the technical parameters of each coin in the second series:

The new coins have been well-received, with the 1 leu coin featuring a female-faced crescent and the 5 lei coin featuring the horns of an aurochs' head.

Moldova's currency, the Moldovan leu, has a rich history reflected in its design. The leu has been the official currency of Moldova since 1993, with a short history but a significant impact on the country's economy.

The Moldovan leu is subdivided into 100 bani, a unit of currency that may seem insignificant but plays a crucial role in everyday transactions.

The leu has undergone several design changes since its introduction, with each iteration incorporating elements that reflect Moldova's cultural heritage and geography.

In 2018, the Moldovan leu underwent a major redesign, featuring new security threads and watermarks to prevent counterfeiting.

The Moldovan leu is pegged to the Euro, with a fixed exchange rate that helps maintain stability in the country's economy.

Moldova's currency is widely accepted in the country, with many businesses and individuals relying on it for daily transactions.

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