Parliament eases foreign exchange limits in EU alignment push
Moldova will raise the threshold for foreign currency operations exempt from National Bank of Moldova (BNM) authorization from €10,000 (approx. 201,530 MDL) to €100,000 (approx. 2,015,300 MDL). Lawmakers approved the legislative initiative in its first reading with 66 votes.
The transaction cap will rise further to €250,000 (approx. 5,038,250 MDL) starting January 1, 2028. The law represents the second phase of a three-stage liberalization roadmap agreed by Moldovan authorities to ensure the full free movement of capital prior to joining the European Union.
Aligning with European capital standards
Presenting the draft bill in parliament on August 25, State Secretary of Finance Elena Grumeza emphasized that the reform aligns national law with EU single market principles. EU treaties strictly prohibit restrictions on capital movements both among member states and with third countries.
The expanded €100,000 threshold will take effect one month after official publication. Grumeza stated that the updated regulations specifically cover capital outflows from Moldova, including the acquisition of foreign financial assets, cross-border loans, and loan guarantees issued to non-residents.
Broader financial access for citizens
The legislation also authorizes currency exchange bureaus to act as licensed payment service agents subject to BNM approval. Previously, these entities could perform exchange operations only.
Additionally, the bill lifts authorization requirements for Moldovans opening foreign bank accounts while staying abroad. It also permits foreign currency transactions at international airport terminals, on commercial flights, and at border crossings.
The reform, drafted by the central bank, now heads to parliament for a decisive second reading.
Translation by Iurie Tataru
