The Moldovan monetary unit refers to the official currency of the Republic of Moldova, a landlocked country located in Eastern Europe. The Moldovan monetary unit is called the Moldovan leu (plural: lei) and is symbolized by the currency code MDL. Introduced in 1993, the Moldovan leu replaced the previous currency, the Moldovan cupon, following the disintegration of the Soviet Union.
The Moldovan leu is divided into 100 bani (singular: ban). Banknotes of different denominations are available, including 1, 5, 10, 20, 50, 100, 200, 500, and 1000 lei. As for coins, they are available in 1, 5, 10, 25, and 50 bani.
The National Bank of Moldova is responsible for the issuance and regulation of the Moldovan leu. It plays a crucial role in maintaining the stability of the currency, managing the country's monetary policy, and contributing to the overall financial stability of the economy.
The Moldovan leu functions as a legal tender within the Republic of Moldova, being utilized for various transactions such as goods and services, taxes, and debts. It is also used for international trade, though its scope of acceptance outside the country is somewhat limited. The exchange rate of the Moldovan leu varies according to market dynamics and can be influenced by various factors, including inflation, economic indicators, and political developments.
Overall, the Moldovan monetary unit, the Moldovan leu, serves as a crucial instrument for economic transactions and a representation of the country's financial stability and independence.
