Moldovan Leu (MDL)

Basic Concepts of the Moldovan Leu

The Moldovan Leu is the official currency of the Republic of Moldova, with the ISO code MDL, issued and managed by the National Bank of Moldova. It is mainly used for daily transactions and financial activities within Moldova.

Countries of use

The Moldovan lei is used primarily within the Republic of Moldova. Moldova is a landlocked country in Eastern Europe, bordering Romania and Ukraine, and the lei is the only legal tender in the country.

Units and denominations

The Moldovan Lei has a secondary unit of coins of Bani, with 1 Lei equaling 100 Bani. Coin denominations in circulation include 1, 5, 10, 25, and 50 Bani, while banknotes are available in denominations of 1, 5, 10, 20, 50, 100, 200, 500, and 1,000 lei, covering a wide range of needs for everyday transactions.

Historical background

The Moldovan lei was first introduced on November 29, 1993, replacing the Soviet-era ruble in order to stabilize the post-independence economy. Since then, the National Bank of Moldova has made several adjustments to the currency design and anti-counterfeiting technology to combat inflation and counterfeiting and to facilitate the modernization of the country's financial system.