Moldovan Leu flag

Moldovan Leu

Leu moldovenesc

Currency Code

MDL

ISO 498

Symbol

MDL

Native: L

Decimal Digits

2

Rounding: 0

Countries

MD

Using this currency

Currency Units

Major Unit

Name: leu

Symbol: L

Minor Unit

Name: ban

Symbol:

Value: 0.01

Banknotes

Frequently Used

L1L5L10L20L50L100L200L500L1000

Coins

Frequently Used

1 ban5 ban10 ban25 ban50 banL1L5

Plural Forms

English Plural

Moldovan lei

Native Plural

Lei moldovenești

Overview

The Moldovan Leu is the currency of Moldova, managed by the National Bank of Moldova. It has experienced volatility due to political instability and economic challenges, but has shown resilience through remittances and EU integration efforts.

Economy

  • Moldova is a member of EU candidate, Council of Europe, OSCE, GUAM, Eastern Partnership.
  • Main industries include: Sugar processing, Vegetable oil, Food processing, Agricultural machinery, Foundry equipment, Refrigerators, Washing machines, Hosiery, Shoes, Textiles.
  • Moldova is part of the World Trade Organization.
  • Imports are mineral products, machinery, chemicals, textiles.
  • Major exports include foodstuffs, textiles, machinery.
  • GDP: $14.9 billion (2023 est.).
  • GDP per capita: $5,906 (2023 est.).
  • Unemployment rate: 2.4% (2023 est.).
  • Inflation rate: 13.9% (2023 est.).
  • Main trading partners: Romania, Russia, Italy, Germany, Turkey, Poland.
  • Trade agreements: EU-Moldova Association Agreement, DCFTA with EU, CIS agreements.

History

  • Previous currencies used: Soviet ruble, Romanian leu (historical).
  • The leu was introduced in 1993, replacing the Soviet ruble. It was named after the Romanian leu, reflecting historical and cultural ties between the countries.
  • 1993: MDL introduced, replacing Soviet ruble
  • 1995: National Bank of Moldova established
  • 2008: Global financial crisis impact
  • 2014: Banking crisis and EU Association Agreement
  • 2022: EU candidate status achieved
  • 2022: Energy crisis due to regional conflict
  • Exchange rate peg: Free floating with interventions.

General Information

  • ISO 4217 Code: MDL
  • Symbols: MDL/L
  • Currency Subunits: 100 bani
  • Central Bank: National Bank of Moldova
  • Monetary Policy: Inflation targeting with flexible exchange rate. Focus on price stability and supporting EU integration process.
  • Bills: 1 MDL, 5 MDL, 10 MDL, 20 MDL, 50 MDL, 100 MDL, 200 MDL, 500 MDL, 1000 MDL
  • Coins: 1 ban, 5 bani, 10 bani, 25 bani, 50 bani, 1 leu, 2 lei, 5 lei, 10 lei
  • USD Exchange Rate: Variable (approximately 17.5-18 MDL per USD)
  • Pegged To: None (Floating)
  • Capital: Chișinău
  • Population: 2,512,758 (2023 est.)
  • Area: 33,851 km²
  • Languages: Romanian (official), Russian, Gagauz, Bulgarian
  • Time Zones: UTC+2 (EET), UTC+3 (EEST in summer)
  • Government Type: Parliamentary republic
  • Head of Government: President (head of state), Prime Minister (head of government)
  • Independence: August 27, 1991 (from Soviet Union)
  • Ethnic Groups: Moldovan 75%, Romanian 7%, Ukrainian 6.6%, Gagauz 4.6%, Russian 4.1%, Bulgarian 1.9%, Other 0.8%
  • Religions: Orthodox 90%, Protestant 1%, Other Christian 1.5%, Other 0.1%, None 0.4%, Unspecified 7%
  • Literacy Rate: 99.4% (2015 est.)
  • Transport: Chișinău International Airport, road networks, rail connections to Romania and Ukraine, Danube River access
  • Communications: Good telecommunications, 76% internet penetration, wide mobile coverage
  • Energy: Natural gas 62%, Coal 23%, Hydroelectric 12%, Other renewables 3%
  • Countries Using This Currency: Moldova
  • Data Sources: Central Bank: National Bank of Moldova (bnm.md), Economic Data: National Bureau of Statistics Moldova, World Bank, IMF, Trade Data: Customs Service of Moldova, Demographic Data: National Bureau of Statistics Moldova, Geographic Data: State Hydrometeorological Service, Historical Data: National Bank of Moldova archives
  • Last Updated: 2025