Moldovan leu reaches historic milestone
The Moldovan leu has reached a significant milestone, surpassing 100 billion lei in circulation, according to economic policy expert Veaceslav Ioniță. This marks a remarkable achievement for the country's national currency, which has demonstrated resilience and stability over the years.
"The Moldovan leu has become a symbol of our statehood," asserted Ioniță, emphasising the currency's role in shaping Moldova's economic identity. Despite fluctuations, the leu has maintained a relatively predictable trajectory, fostering trust among Moldovan citizens.
Ioniță attributed the leu's strength to a combination of factors, including sound macroeconomic policies and a growing economy. He noted that the currency has appreciated against all major currencies in 2023, reflecting its underlying strength.
The expert also highlighted the evolution of the leu's usage patterns. Today, the 200-lei banknote holds the largest share of total circulation, while the 1-leu note remains the most frequently used but also the most susceptible to wear and tear. To address this issue, the National Bank of Moldova introduced 1, 2, 5, and 10 lei coins in 2018, effectively reducing the reliance on 1-leu notes.
The leu's journey reflects Moldova's economic progress. From an average of 34 lei per citizen in 1993, the current average stands at over 14,000 lei. This growth underscores the country's economic development and the leu's integral role in shaping Moldova's financial landscape.
Translation by Iurie Tataru
